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 27.20 - Manufacture of batteries and accumulators
95 jobs Number of planned job losses
Announcement Date
22 October 2012
Employment effect (start)
19 November 2012
Foreseen end date
31 December 2012
Description
Austrian supplier for the photovoltaic industry Isovoltaic is to close one production site and downsize its headquarters, making up to 95 employees redundant.
The company, which is specialised in the development and production of backsheets for photovoltaic modules, registered 72 of its employees at its headquarters in Lebring with the early warning system of the Public Employment Service. Furthermore, the company will close down its production site in Eisenstadt, which currently employs 23 staff, by the end of the year.
The reason for the downsizing is a decline in demand for photovoltaic modules, which is due to reduced financial subsidies in its main markets.
Sources
22 October 2012: Wirtschaftsblatt
24 October 2012: Kleine Zeitung
23 October 2012: orf.at
Citation
Eurofound (2012), Isovoltaic, Internal restructuring in Austria, factsheet number 74380, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74380.
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