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.
US Company First Solar, a manufacturer of solar panels, announced the restructuring of its German operations. The manufacturing plant at Francfurt/Oder, eastern Germany, will be closed by the end of the year. A total of 1,200 jobs will be eliminated.
Additionally, the European sales division will be restructured which will involve the shedding of a minimum of 100 posts at Mainz. The European sales division employs a total of 175 persons and 150 posts will go.
The company said that the measures respond to reductions in state subsidies and increasing competition from China.
As reported, Germany has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2012), First Solar, Internal restructuring in Germany, factsheet number 73453, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73453.