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.
Austrian supplier for the photovoltaic industry Isovoltaic is to close one production site and downsize its headquarters, making up to 95 employees redundant.
The company, which is specialised in the development and production of backsheets for photovoltaic modules, registered 72 of its employees at its headquarters in Lebring with the early warning system of the Public Employment Service. Furthermore, the company will close down its production site in Eisenstadt, which currently employs 23 staff, by the end of the year.
The reason for the downsizing is a decline in demand for photovoltaic modules, which is due to reduced financial subsidies in its main markets.
Eurofound (2012), Isovoltaic, Internal restructuring in Austria, factsheet number 74380, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74380.
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