Nordex SE

EANS-News: Nordex completing layoffs with minimum staff hardship

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Layoffs & Downsizing

Subtitle: Layoffs achieved by means of voluntary measures
/Employment guarantee until March 2013

Hamburg (euro adhoc) - Wind turbine manufacturer Nordex has now fully
implemented its cost-cutting programme with which it plans to return to the
black next year. After trimming its operating expenses, the company has now also
made the necessary adjustments to its European workforce. All told, around 260
jobs are affected by the programme. "In the interests of industrial peace and
staff motivation, it was important for us to come up with a solution which
ensured minimum hardship while remaining affordable," says Thomas Richterich,
CEO of Nordex SE. "We achieved this in constructive negotiations with the
employee representative bodies."

Some 65 percent of the positions were removed by means of a volunteer programme.
For this purpose, Nordex offered its employees a settlement, the amount of which
was based on their length of service. Further reductions were achieved by staff
handing in their own notice. In this way, it was possible to avoid the need for
a broad hardship-minimisation plan or terminations for operational reasons.
Moreover, such terminations have been ruled out for the immediate future as the
contract with the employee representatives also provides for an employment
guarantee until March 2013.

Further inquiry note:
Ralf Peters
Head of Corporate Communication
Tel.: +49 (0)40 300 30 15 22

end of announcement                               euro adhoc 

company:     Nordex SE
             Langenhorner Chaussee 600
             D-22419 Hamburg
phone:       +49 (0)40 30030-1000
FAX:         +49 (0)40 30030-1101
sector:      Alternative energy
ISIN:        DE000A0D6554, DE0000A0D66L2
indexes:     TecDAX, CDAX, HDAX, Prime All Share, Technology All Share, ÖkoDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English

Weitere Meldungen: Nordex SE

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