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.
Electricity Electricity, gas, steam and air conditioning supply Electric power generation, transmission and distribution 35.12 - Production of electricity from renewable sources
350 jobs Number of planned job losses
Announcement Date
23 December 2024
Employment effect (start)
23 December 2024
Foreseen end date
31 December 2027
Description
BayWa r.e., a German renewable energy company, plans to cut around 350 jobs directly in a socially responsible way by 2027.The company may also eliminate up to 2,400 positions in total through divestments, transfers to new owners, and adjustments in non-core areas.
The restructuring, part of a three-year turnaround strategy agreed with banks, is aimed at stabilising BayWa r.e. 's financial position after reporting a loss of €164.8 million in the first nine months of 2024. The company is also in advanced talks with shareholder Energy Infrastructure Partners (EIP) over a potential capital increase that could result in a change of control. The company intends to focus on profitable core business areas such as project development in wind, solar, and battery storage, as well as the operation, maintenance, and trading of renewable energy.
BayWa r.e. is a subsidiary of the BayWa Group, an international conglomerate based in Munich, Germany. The company specialises in the development, operation, and distribution of solar, wind, and energy storage solutions. BayWa r.e. delivers end-to-end renewable energy projects and services for businesses, utilities, and governments worldwide. It operates in 34 countries across Europe, the Americas, and Asia-Pacific. BayWa r.e. employs 4,250 people worldwide.
In December 2024, the BayWa group announced a plan to close around 400 locations and cut around 1,300 jobs across GermanyBayWa 2024-DE
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