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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
European Globalisation Fund (EGF)
Year: 2013, Case number: 03
2,000 jobs Number of planned job losses
Announcement Date
17 April 2012
Employment effect (start)
18 April 2012
Foreseen end date
31 December 2012
Description
First Solar, an American renewable energy company, will close its manufacturing plant in Frankfurt (Germany) by the end of 2012 and plans to halt work on four production lines in Malaysia. The restructuring will involve the loss of 2,000 jobs. The bulk of the restructuring costs - reported as being $280m - relate to the Frankfurt closure.
The company says it is responding to deteriorating market conditions, caused by both an oversupply of solar panels and by cuts in government subsidies for solar panels in Europe.
Sources
17 April 2012: The Financial Times
Citation
Eurofound (2012), First Solar, Internal restructuring in World, factsheet number 73445, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73445.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
