VELUX Group, which produces roof windows, announced a reduction in production at European plants. This is stated in the message on the company's website. The reason is the decline in sales of roof windows due to the difficult macroeconomic situation. This led to excessive stocks of goods.
VELUX initiated a reduction in production at factories in Poland, Denmark, Hungary, Slovakia, and Germany. The process may lead to the dismissal of up to 430 employees.
The company tried to reduce excess inventory by reducing the number of production days and stopping hiring new workers. However, these steps were not enough.
"Consumers are spending less on home improvements and our warehouses are full. Therefore, we need to produce less. Sadly, this means saying goodbye to talented and dedicated people. However, in the current macroeconomic situation, we believe it is necessary to make adjustments now to prepare our business and remain strong for the future," comments Iben Schmidt Helbirk, EVP People & Organisation.