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.
SMA Solar Technology, a German photovoltaic modules producer, states that the ongoing crisis of the photovoltaic industry will result in the cut of 800 job places by the end of 2013. The total number of staff at the company is expected to decrease to 3000 by the end of 2014. The company already shed about 1,000 positions in fall 2012 (see SMA Solar 2012 and SMA Solar World 2012). The German solar industry is strongly affected by a decline in public subsidies at times of growing foreign competition and an ongoing price slump of photovoltaic modules.
Updated, 17/09/2013: The company announced that the 800 job cuts will not result in forced redundancies.
Updated, 23/04/2014: According to the media sources it seems that not all 800 job cuts were implemented in 2013 (see SMA Solar-DE2014).
Eurofound (2013), SMA Solar, Internal restructuring in Germany, factsheet number 75626, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75626.