SMA Solar to Cut 350 Jobs by 2023 Amid Market Crisis
SMA Solar, a leading solar technology manufacturer located in North Hesse, has revealed plans to reduce its workforce by 350 positions by the end of next year. The majority of these cuts, totaling around 300 roles, will occur in Niestetal. The company aims to save approximately 100 million euros annually through these measures. Discussions with the works council are scheduled to commence next week and are expected to conclude by November.
The decision comes in response to a weak market and intense price pressure in the residential and commercial sectors, which have contributed to SMA Solar's current crisis. The company aims to optimize its value creation in production by leveraging its international presence more effectively. CEO Jürgen Reinert has stated that the company will focus on core competencies, including cybersecurity, quality, and comprehensive solutions, to restore its competitiveness. Previously, SMA had planned to cut 700 jobs in Niestetal by the end of 2025, but the new plan reduces this number to around 300 positions as part of further savings.
SMA Solar will initiate these job cuts from January. The company hopes that these measures will help it navigate the current market challenges and ensure its long-term competitiveness in the solar technology sector.
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