Dutch electric bus manufacturer Ebusco has announced layoffs affecting 102 employees, approximately one in six staff members. The affected employees were informed recently about the job cuts.
Ebusco has been facing difficulties for some time, with bus production not proceeding as smoothly as anticipated, leading to the cancellation of major orders due to delays. The company is in debt, including outstanding payments to the tax authorities.
Earlier this year, Ebusco developed a recovery plan and hoped to avoid large layoffs through natural attrition and reduced reliance on temporary workers. However, it has now concluded that a larger round of layoffs is necessary, to be completed in the first quarter of 2025.
The announcement coincides with the holiday season but was not intentionally timed. CEO Christian Schreyer stated, “Although this decision is difficult for the affected employees, it is a necessary step to improve Ebusco’s financial performance.” The company plans to consolidate two production sites in Deurne and Venray.
In November, the company raised 36 million euros by issuing additional shares.
Source: NOS