EMCC European Monitoring Centre on Change

Pella Sietas

Pella Sietas

Geographic Location

Country: Germany
Region: Hamburg
Location of affected unit(s): Hamburg


Sector: Manufacturing
Manufacture of transport equipment
30.1 - Building of ships and boats
Number Employed: 200

Employment Effects

Announcement Date: 16-09-2021
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Bankruptcy
Employment Effect Start: 16-09-2021
Foreseen End Date: 30-09-2021
Direct Dismissals: 180

Additional Information

As announced on 16 September 2021, the oldest shipyard in Germany will be cutting approximately 180 jobs in Hamburg by the end of September 2021 due to insolvency.

Pella Sietas had announced insolvency at the beginning of August 2021, however, the search for a new investor has been unsuccessful as of today. Insolvency money will run out by the end of September which will mean that almost all employees will be terminated. According to the insolvency administrator, only 20 employees will remain at the shipyard.