SMA plans to cut 425 jobs worldwide
Post date: 12/12/2018 - 16:52
As part of the restructuring measures announced in September, German inverter manufacturer SMA Solar Technology AG will discontinue China as a company’s location and will sell its Chinese parts to their local management. Furthermore, global workforce will be reduced by around 425 full-time positions. According to the Executive Board, as of December 31, 2018, until 2020 more than 100 full-time positions will be cut in Germany and more than 300 in other countries. The company currently has 3,307 full-time positions (excluding temporary staff).
»The restructuring measures are needed in order to return SMA to profitability quickly in an environment characterized by a sharp decline in prices. The measures are aimed at reducing SMA’s fixed costs and making optimal use of our capacity at the headquarters by focusing on our core competencies, outsourcing and automating activities, and reorganizing structures,« says SMA CEO Jürgen Reinert.
The SMA Managing Board is confirming its sales and earnings guidance for the current fiscal year. It anticipates sales of €760 million to €780 million ($862 to 885 million) and negative EBITDA in the mid to high tens of millions of euros. For 2019, the SMA Managing Board is aiming for sales growth and positive EBITDA.