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, German photovoltaic modules producer, has recently announced plans to gradually lay off around 1,050 of its current staff. In an attempt to cut costs the company has decided to reduce the number of its employees, which will affect 600 temporary employees as well as 450 employees worldwide. According to the company, these cost cutting measures have become necessary due to cuts in subsidies for photovoltaics, which will lead to a significant decrease of demand in its European market.
The majority of job cuts will take place at the company’s headquarters in Kassel, where 350 employees and 400 temporary workers will be made redundant. It is not yet known which other sites will be affected.
Eurofound (2012), SMA Solar, Internal restructuring in World, factsheet number 74466, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74466.