20 January, 2025 | Gothenburg, Sweden – Today NOVO Energy announced plans to implement organizational changes and cost reductions in response to evolving market conditions and an amended business plan. These changes will affect around 30% of positions across the organization. All notices of redundancies are subject to ongoing union negotiations in Sweden

"We are making this difficult but necessary decision to adjust our organization due to the evolving market conditions, and it was not made lightly, said Adrian Clarke, CEO of NOVO Energy. “We understand the significant impact it will have on our valued employees and will provide them with assistance and support during these changes.”

The company will provide comprehensive transition support to affected employees. Negotiations will now start with the unions.