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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.12 - Manufacture Of Electricity Distribution And Control Apparatus
650 jobs Number of planned job losses
Announcement Date
15 July 2024
Employment effect (start)
15 July 2024
Foreseen end date
Description
Austrian solar power systems manufacturer Fronius has announced that it will cut 650 jobs in Europe.
The layoffs will affect 450 positions in Austria and 200 in sites located in the Czech Republic and Germany.
The cuts follow the dismissal of 350 employees in Austria announced by the company in early June 2024 FRONIUS-2024-AT. The restructuring programme is due to growth expectations being too optimistic, and found that wholesalers have too many inverters in stock.
Fronius has been operating since 1945. The company has 38 production sites, including 20 located in Europe. The cumulative layoffs will reduce the company's total workforce from 8,000 to 7,000 within the year.
Eurofound (2024), Fronius, Internal restructuring in European Union, factsheet number 201414, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201414.
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