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Grundfos laying off 400 employees
Grundfos slims down its organisation to reverse declining earnings and to better position the company for future growth. Something that will lead to the dismissal of 405 employees globally – of which 133 in Denmark.
The group has experienced declining revenues and increasing capacity cost over the last four years. A trend that the company now must reverse, the group is addressing this partly by merging a number of functions that need tighter focus on projects and also by reducing bureaucracy within the organisation. This means that 405 employees out of 19'613 will be dismissed, of which 133 in Denmark.
Sales does not satisfy the ambitions for 2014, according to CEO, Mads Nipper, and the company earnings have been declining in recent years.
“If we do not turn the trend, it can erode our financial strength and independence and weaken our global competitiveness,” says CEO, Mads Nipper.
