EMCC European Monitoring Centre on Change

Isovoltaic

Company/Organisation:
Isovoltaic

Geographic Location

Country: Austria
Region: Südösterreich
Location of affected unit(s): Lebring (Styria) and Eisenstadt (Burgenland)

Company

Sector: Manufacturing
Manufacture of electrical equipment
27.20 - Manufacture of batteries and accumulators
Number Employed: 250

Employment Effects

Announcement Date: 22-10-2012
Planned Job Reductions min: 95
Type of Restructuring: Internal restructuring
Employment Effect Start: 19-11-2012
Foreseen End Date: 31-12-2012
Direct Dismissals: 95

Additional Information

Austrian supplier for the photovoltaic industry Isovoltaic is to close one production site and downsize its headquarters, making up to 95 employees redundant.

The company, which is specialised in the development and production of backsheets for photovoltaic modules, registered 72 of its employees at its headquarters in Lebring with the early warning system of the Public Employment Service. Furthermore, the company will close down its production site in Eisenstadt, which currently employs 23 staff, by the end of the year.

The reason for the downsizing is a decline in demand for photovoltaic modules, which is due to reduced financial subsidies in its main markets.