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 - Manufacture of electrical equipment
110 jobs Number of planned job losses
Announcement Date
22 July 2011
Employment effect (start)
22 July 2011
Foreseen end date
Description
The Austrian solar cell manufacturer Blue Chip Energy has become insolvent and has released all of its 110 employees at full pay.
The company, which has been producing highly efficient solar panels at a single plant in Güssing, Burgenland has stopped the production only after three years of activity. The rather unexpected insolvency is due to the company's liabilities amounting to EUR 78.1 million.
The company had been initially financed by credits from several banks as well as investments of the federal state, the province of Burgenland and the EU. Blue Chip Energy's German co-owner company Solon itself is experiencing major economic difficulties at the moment.
Sources
22 July 2011: orf.at
22 July 2011: Wirtschaftsblatt
Citation
Eurofound (2011), Blue Chip Energy, Bankruptcy in Austria, factsheet number 72209, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72209.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
