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Restructuring and employment trends in Europe

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Germany: recent restructuring in the solar photovoltaic (PV) industry

Two cases of job cuts in the PV industry in Germany were reported in the ERM in March.

Solar panel manufacturer Solon announced that it will relocate its headquarters from Berlin to UAE by the end of April 2014, making its 230 staff redundant. The company made its highest recorded sales in 2008 with a sales volume of €815 million. However, with declining orders, the company accumulated debts of €400 million by mid-2011 and had to file for insolvency. In March 2012, Indian Microsol took over, and pledged to maintain operations in Berlin for at least two years – but that deadline has now been reached.

Bosch announced that it would sell its PV cells and modules production in Arnstadt to SolarWorld. Eight hundred of Bosch’s 1,400 staff in the branch will transfer to SolarWorld and another 250 will be redeployed within existing Bosch facilities, the remaining 350 will lose their jobs. Bosch had announced the closure of its remaining operations in the sector a year ago after making public its operating losses of €1 billion during 2012.

Updated 24 April 2014

 

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