Restructuring events
European Restructuring Monitor (ERM)
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.
On March 13th, Senvion, the Germany-based wind turbine manufacturer, has announced plans to cut 780 jobs globally. Senvior which has the operating headquarters and administrative centre at Hamburg, employs about 4,830 employees worldwide.
The jobs reduction will affect mainly Germany where 730 job cuts will take place, affecting company’s facilities in Husum, Trampe and Bremerhaven. The internal restructuring includes the relocation of some production activities. Further 50 jobs will be cut abroad.
Jürgen Geissinger, the CEO of Senvion said that the restructuring is inevitable and will secure the long-term competitiveness of the company saving EUR 40 million annually.
Eurofound (2017), Senvion, Internal restructuring in World, factsheet number 90543, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90543.