Nordex fires 400-500 employees

Northern German wind turbine manufacturer Nordex is now initiating a cost cutting measure and laying off almost every fifth employee in Germany.

Nordex has launched a comprehensive cutback initiative which intends to reduce costs by around EUR 45 million. This means that 400 to 500 of the manufacturer's European staff now face the prospect of layoffs, Nordex has announced.

The cost-cutting plan is attributed to "the continuing decline in demand and the sharp change in market conditions in its core market Germany as well as in other European countries."

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