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 18 September Vestas, Danish wind turbine producer, announced plans to cut 650 jobs in Denmark by the end of September 2012.
The redundancies will affect 331 hourly-paid and 319 salary-paid employees.
The cuts are the response to the reduced public subsidies for wind power and fierce competition in the market.
Currently Vestas employs 5,600 people in Denmark.
As reported, Denmark has applied for assistance from the European Globalisation Adjustment Fund (EGF).
The announced job cuts are in addition to the previously announced 1,300 job cuts.
Eurofound (2012), Vestas, Internal restructuring in Denmark, factsheet number 74152, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74152.
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