The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.11 - Building of ships and floating structures
500 jobs Number of planned job losses
Announcement Date
1 September 2015
Employment effect (start)
1 September 2015
Foreseen end date
31 December 2015
Description
Nordic Yards, a German shipbuilding company, will cut 500 out of 1400 jobs at its plants in Wismar, Warnemünde and Stralsund by the end of this year. The company said that it will need to reduce its workforce in a bid to improve efficiency as the company has been hit by low oil prices and sanctions against Russia as Nordic Yards considers the Russian market for icebreakers vital for its business.
Nordic Yards is a German shipbuilding company, which headquarters in Wismar. In addition, Nordic yards also manufactures and develops maritime constructions, for example, for the offshore-sector.
Sources
1 September 2015: Handelsblatt online
3 September 2015: Ostsee Zeitung (online)
Citation
Eurofound (2015), Nordic Yards, Internal restructuring in Germany, factsheet number 84757, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84757.
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