Hamburg-based Nordex Group (www.nordex-online.com) is to cut up to 500 jobs by the end of the year in response to difficult market conditions in Germany and elsewhere in Europe.

The manufacturer has informed employee representatives that 400-500 positions will be lost, as it aims to make savings of 45 million euros in 2018.

Nordex employs 5,200 world-wide (with around 2,500 in Germany). Chief executive Jose Luis Blanco said: “The global wind-power market will expand again in the medium term, but it faces fundamental changes, heavy price pressure and a shift in growth away from established markets in favour of emerging markets.

“Business in the European core market is currently flat to weak — and thus posing challenges for us.

“Despite our good position and the successful measures that have already been implemented, we need to work on achieving effective savings in the short term, so capacity adjustments are unavoidable.

“Only with competitive cost structures and efficient products will we be perceived by our customers as a trustworthy and attractive partner.”