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
160 jobs Number of planned job losses
Announcement Date
22 May 2014
Employment effect (start)
22 May 2014
Foreseen end date
31 December 2014
Description
Photovoltaic producer Masdar PV is to cut 160 jobs at its manufacturing site in Ichtershausen. The factory will be closed by the end of 2014. According to a company statement the deteriorating situation in the solar industry is the main reason for the closure and that due to global oversupply, small manufacturers like Masdar PV is hard to survive due to low prices. As reported the company aims to provide support to the affected workforce.
Sources
23 May 2014: Thüringer Allgemeine
22 May 2014: Focus Online
27 May 2014: IWR
Citation
Eurofound (2014), Masdar PV, Closure in Germany, factsheet number 77141, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77141.
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