This morning NEVS announces following in a press release:
Nevs announces intention to lay off up to 200 employees due to lack of work, as thedecision to re-start production will be further delayed.
Nevs has retained the permanent workforce for production since the production was stopped in the end of May this year. The reason for this has been that the company would be ready to quickly start up production, upon such decision.
The prerequisites for making a decision to start up production are to have long-term secured funding and a business plan that has been worked through together with a new majority owner.
The ongoing discussions on collaboration and ownership structure, which has not yetresulted in a binding agreement, indicates that the decision for a start-up of productionwill take time.
With this there is a redundancy of the workforce. Therefore, Nevs’ management has decided to hand in a notice of intention to lay off up to 200 employees to the Swedish Public Employment Service.
The terminations will take place in September in order to rapidly reduce the company’s costs during the reorganization period. This is a step in the reorganization plan that the administrator will present on the creditors meeting on October 8.
Nevs intends to retain the remaining staff to maintain the plant in good condition, to beprepared for the new production, after such a decision is taken, and to continuedeveloping new products.