Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The German manufacturer and supplier of photovoltaic systems Solarwatt has announced plans to cut 190 jobs at its production site in Dresden.
The company has announced that it will cease production at its site in Dresden until further notice, thereby laying off 190 employees. The reason given is the lack of political measures to protect the German solar industry. Production in Germany is not competitive in comparison to that from China. The company Solarwatt will remain in existence and wants to become an even stronger provider of complete energy systems for private homes and commercial enterprises.
In March 2024, another major solar manufacturer Meyer Burger-2024-DE had already ceased production in Germany for the same reason and relocated to the USA.
The company employs 750 people across Europe, 650 of them in Germany.
7/11/2024 It has now been announced that the company plans to focus on offering complete solutions for energy supply in the future. This new strategy involves significant job cuts. The company intends to eliminate 400 positions worldwide, leaving only 350 employees by 2025.
Eurofound (2024), Solarwatt, Closure in Germany, factsheet number 201144, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201144.