Since summer, VELUX has seen declining roof window sales due to the difficult macroeconomic situation, which is impacting consumer spending. This has resulted in overstocking and a need to scale back production in European factories. Due to these circumstances, VELUX has begun a process to lay off 430 employees at factories in Poland, Denmark, Hungary, Slovakia and Germany. This may result in up to 430 people being laid off.
Schmidt Helbirk, EVP People & Organisation, stated “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.”