Grundfos to lay off 78 employees in Denmark

Grundfos is laying off 78 out of approximately 4,000 employees in Denmark as the pump company lowers its costs amid continued market challenges expected in the coming year. The reduction is a response to a significant drop in heat pump sales and a contracting German economy with no immediate signs of recovery. The layoffs, affecting both salaried and skilled workers, will be officially announced on Wednesday. Previously, in June last year, Grundfos let go of 120 employees in Denmark due to production adjustments to match the prevailing situation, followed by another 90 employees six months later. Despite the cutbacks, Grundfos reported more than 34 billion kroner in revenue and a pre-tax profit of 4.7 billion kroner in 2023.