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 27.2 - Manufacture Of Batteries And Accumulators
700 jobs Number of planned job losses
Announcement Date
14 November 2024
Employment effect (start)
14 November 2024
Foreseen end date
31 December 2025
Description
As announced on 14 November 2024, the German solar technology manufacturer SMA Solar plans to cut 1,100 jobs worldwide by the end of 2025. Of these, 700 positions will be affected at the company's headquarters in Niestetal, Germany.
The cost-cutting program is in response to challenges in the business with residential and commercial solar systems. Revenue significantly declined in the first nine months of 2024. The program is expected to save between €150 and €200 million.
The company employs 4,500 people in 20 countries worldwide, including 3,200 in Germany.
Eurofound (2024), SMA Solar Technology, Internal restructuring in Germany, factsheet number 201990, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201990.
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