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.
Ebusco, a Dutch bus manufacturer, is taking steps to avoid bankruptcy. It’s consolidating operations in the Netherlands by merging its Deurne and Venray sites, aiming to save €30 million annually. Layoffs have already begun. It has been announced that at least 100 jobs will be directly cut. It is unknown which units are the most affected by the job cuts.
The reasons for these job cuts are mainly financial. After losing a court case, Ebusco lost a significant order for 45 buses from Qbuzz, putting it in severe financial distress. The company plans to reallocate these buses to other clients, but this won’t generate revenue until 2025. Ebusco also has overdue bills and fines for late deliveries of buses worth 33 million euros, and it is negotiating with various clients to sell 61 cancelled buses.
As part of the restructuring, Ebusco will further outsource its production, with buses designed in-house but assembled by contractors, reducing its production sites from seven to five.
Ebusco, established in 2012 and headquartered in Deurne, Netherlands, specialises in developing, producing, and distributing fully electric city and regional buses.
Updated, 31/12/2024: Ebusco, a bus manufacturer based in Deurne, North Brabant, has announced a restructuring plan that will eliminate 102 full-time equivalent (FTE) positions, representing 16.5% of its workforce. The affected roles primarily involve production, warehouse, and facility departments. The restructuring is part of a broader effort by new CEO Christian Schreyer to improve the company’s financial performance after severe losses, including €65 million in the first half of 2024.
Ebusco plans to carry out most of the restructuring during Q1 2025. The company has applied to the Dutch Employee Insurance Agency (UWV) for layoffs and is negotiating a social plan with unions to support affected employees. Production operations in the Netherlands are being scaled back significantly, with only final assembly retained locally. Manufacturing of the lightweight composite bus bases will move entirely to Rouen, France, while other tasks will be outsourced to Chinese subcontractors.
Eurofound (2024), Ebusco, Internal restructuring in Netherlands, factsheet number 201872, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201872.
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