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Nibe announces 340 heat pump redundancies

SWEDEN: Nibe has given notice of redundancy to 340 employees in Sweden as a result of weaker demand in the European heat pump market.

Last month, the Swedish heat pump manufacturer said it would be introducing a plan aimed at reducing staff and overhead costs, particularly within Nibe Climate Solutions in Europe.

A statement on the company’s website said: “We are now entering into negotiations to implement these measures in order to align costs and staffing with the current lower sales volumes, we are also looking to establish the best possible foundations for a well-dimensioned and streamlined organization when the market turns around.”

After the plan has been implemented, the group’s staffing in Sweden will be reduced by approximately 340 employees, of which around 264 will be from Nibe AB and 40 from its subsidiary CTC AB. 

“In the rest of European operations, negotiations will be initiated for staffing reductions of a similar extent,” the company said.

The company’s CEO and MD Gerteric Lindquist admitted: “This certainly is of course an extremely difficult decision to downsize and terminate the employment of loyal employees. But it has become necessary due to the tough market conditions. And we are committed to navigating the downturn in the best possible way, so that we will be in an appropriately strong position once the market picks up again.” 

Heat pump sales in Europe fell by around 5% in 2023, according to the European Heat Pump Association. This follows a decade of increases and a huge 37.6% increase in 2022. 

The slowdown has forced manufacturers to cut jobs or reduce hours and production in a number of new factories are also reported to have been delayed due to the downturn.

Related stories:

European heat pump sales down 5% in 202327 February 2024
EUROPE: After a decade of increases, heat pump sales in Europe fell by around 5% in 2023 – and market analysts are expecting this downward trend to continue this year. Read more…

Nibe seeks savings after heat pump slump – 17 February 2024
SWEDEN: Swedish manufacturer Nibe has announced plans to streamline its business after latest financial figures confirm declines in the European heat pump market. Read more…

German groups warn of “alarming” slump in heat pump sales – 23 January 2024
GERMANY: As Germany celebrates record heat pump sales in 2023, the future of the market is uncertain with sales declining since last June and an “alarming” slump in December. Read more…

Heat pump sales declining in Euro/Nordic countries – 14 December 2023
BELGIUM: Despite a strong start, heat pumps sales have shrunk in some European and Nordic countries this year, according to new data from the European Heat Pump Association (EHPA). Read more…

Daikin to axe 500 jobs as heat pump demand falls – 21 September 2023
BELGIUM: Daikin Europe has said it will not renew the contracts of 500 temporary employees at its plant in Ostend, due to a sharp fall in heat pump sales. Read more…

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