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 Computer, Electronic And Optical Products 26.11 - Manufacture of electronic components
800 jobs Number of planned job losses
Announcement Date
23 April 2014
Employment effect (start)
23 April 2014
Foreseen end date
31 December 2014
Description
On 23 April 2014, the business daily Handelsblatt reported on further job cuts at German photovoltaic modules producer SMA Solar. 800 jobs will be cut by the end of 2014. The recent job cuts continue the company’s cost reduction measures of the last two years (see SMA Solar 2013, SMA Solar 2012 and SMA Solar 2012 World). Suffering from strong competition and reduced subsidies, SMA Solar has announced it will continue cost reductions. The company’s strategy also includes investing in research & development and working together with new shareholder Danfoss, a Danish company producing heating and refrigeration systems.
Sources
23 April 2014: Handelsblatt
Citation
Eurofound (2014), SMA Solar, Internal restructuring in Germany, factsheet number 76904, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76904.
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