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
425 jobs Number of planned job losses
Announcement Date
12 December 2018
Employment effect (start)
1 January 2019
Foreseen end date
1 January 2020
Description
SMA Solar Technology AG has presented the restructuring plan announced in September to the employees representatives. One of the main planned measures is the discontinuation of China as a location and the sale of the Chinese companies to the local management. The restructuring will involve a reduction of the global workforce by around 425 full-time positions. According to the company 'the restructuring measures are needed in order to return SMA to profitability quickly in an environment characterised by a sharp decline in prices'.
The planned restructuring measures are to be implemented starting from January 2019. Worldwide, SMA plans to cut around 425 of the total 3,307 full-time positions (not including temporary employees), until 2020. More than 100 of these full-time positions are located in Germany and more than 300 to the foreign locations. The management is aiming 'to carry out the staff reduction in a socially responsible way. However, compulsory redundancies cannot be ruled out at present'.
Sources
Citation
Eurofound (2018), SMA Solar Technology, Internal restructuring in World, factsheet number 96235, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96235.
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