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 27.9 - Manufacture of other electrical equipment
100 jobs Number of planned job losses
Announcement Date
12 June 2013
Employment effect (start)
12 June 2013
Foreseen end date
31 March 2014
Description
Producer of solar electric panels Greiner Renewable Energy, the solar division of the Austrian Greiner Holding group, is to be liquidated, whereby 100 employees will lose their jobs. As reported, the step is due to high losses of the company, and no expectations of making profits again soon. As announced, socially acceptable solutions are to be found for the employees; some might be employed by other companies of the group. The timeline for the restructuring is not yet available.
Updated, 17-11-2013: As reported, the company has orders until the end of October. The remaining 90 employees (12 have left the company or have been employed in other branches of the group) have been registered with the Public Employment Service's early warning registration system. Employment might be terminated by the end of 2013 (while adhering to time limits). Negotiations on a social plan have commenced and are 'constructive', according to the group's works council.
Updated, 28-12-2013: As reported, the company has halted its production on 11 December 2013. 7 employees will remain by the end of the liquidation process until the end of the first quarter 2014.
Sources
12 June 2013: Greiner (Press release)
28 December 2013: Wirtschaftsblatt
17 September 2013: Oberösterreichische Nachrichten
12 June 2013: Die Presse
Citation
Eurofound (2013), Greiner Renewable Energy, Bankruptcy in Austria, factsheet number 75521, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75521.
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