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 Computer, Electronic And Optical Products 26.11 - Manufacture of electronic components
1,050 jobs Number of planned job losses
Announcement Date
18 October 2012
Employment effect (start)
Foreseen end date
Description
SMA Solar, German photovoltaic modules producer, has recently announced plans to gradually lay off around 1,050 of its current staff. In an attempt to cut costs the company has decided to reduce the number of its employees, which will affect 600 temporary employees as well as 450 employees worldwide. According to the company, these cost cutting measures have become necessary due to cuts in subsidies for photovoltaics, which will lead to a significant decrease of demand in its European market.
The majority of job cuts will take place at the company’s headquarters in Kassel, where 350 employees and 400 temporary workers will be made redundant. It is not yet known which other sites will be affected.
Sources
19 October 2012: Handelsblatt
Citation
Eurofound (2012), SMA Solar, Internal restructuring in World, factsheet number 74466, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74466.
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