The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture of electrical, electronic and optical products Manufacture of electrical equipment 27.2 - Manufacture of batteries and accumulators
150 jobs Number of planned job losses
Announcement Date
5 May 2025
Employment effect (start)
5 May 2025
Foreseen end date
Description
Novo Energy has announced a reduction of 150 jobs, equating to 50% of its workforce.
The restructuring follows the bankruptcy of Novo Energy's technology partner, Northvolt, and aims to optimise operations and manage costs. The layoffs will primarily affect white-collar workers.
Novo Energy, established in 2021, was initially a joint venture between Northvolt and Volvo Cars, aimed at building a dedicated battery factory in Gothenburg.
A previous round of layoffs was announced by Novo Energy in January 2025. The event has been recorded in the ERM events database Novo Energy - SE.
Eurofound (2025), Novo Energy, Internal restructuring in Sweden, factsheet number 202694, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202694.
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