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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35.11 - Production of electricity
700 jobs Number of planned job losses
Announcement Date
27 January 2015
Employment effect (start)
27 January 2015
Foreseen end date
30 June 2015
Description
SMA Solar Technology will cut 1,300 out of a total workforce of 4,700 jobs in Germany by 30 June 2015 after reporting a decline in sales in 2014. The company posted a loss of 115 million euros in 2014. The current job cuts come on top of those reported last year (see SMA Solar 2014). Another 300 jobs will be cut outside Germany.
SMA is headquartered in north of Hesse, Niestetal. It is a Germany manufacturer of components for photovoltaic systems with mains feed-grid power supply and backup operations.
Sources
27 January 2015: IWR Online
28 January 2015: Handelsblatt
27 January 2015: Stuttgarter Zeitung
28 January 2015: Frankfurter Allegemeine
Citation
Eurofound (2015), SMA Solar Technology, Internal restructuring in Germany, factsheet number 78233, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78233.
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