112

Business

Grundfos to cut 405 jobs

admin
November 18th, 2014


This article is more than 10 years old.

Company struggling to achieve desired growth

The Danish pump manufacturer Grundfos will be letting go of 405 employees worldwide, of which 133 currently work in Denmark, TV2 reports.

“Grundfos is growing, but not fast enough,” Mads Nipper, the company’s CEO, told TV2.

“Sales don’t meet our ambitions for 2014 and our income has been falling the past years. One of our key values is independence, including financial independence, and we want freedom to finance our growth and make decisions about potential investments without having to borrow money.”

READ MORE: Grundfos an integral resident of carbon-free city in Abu Dhabi

In stagnation
The pump market went from growing rapidly to almost stagnating following the financial crisis. “If we don’t turn things around, it can erode our financial strength and independence as well as our global competitiveness,” Nipper told TV2.

With a turnover of 23.3 billion kroner last year, Grundfos is in the top 25 of Denmark’s biggest companies.

In the first two quarters of this year the company made a loss of 301 million kroner.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”