SMA Solar axes 700 German jobs

PV inverter giant SMA Solar says it will cut 700 jobs in Germany by the end of 2014.

Today’s announcement puts a number to staff reductions that have been expected for months, and were widely trailed in the German media.

SMA – the world’s biggest supplier of PV inverters – says: “We are expecting an extended period of consolidation in the solar sector. For the first time in many years, measured in euros, the global PV market will decline in 2013.

“As market leader, we will be especially affected by this. In such a short space of time, we are not able to offset the sharp decrease in sales – nearly 50% since 2010 – with the ongoing measures for increasing productivity and saving on material costs alone.”

The phased reduction of 700 full-time posts will in practice affect about 800 employees, once part-time working is taken into account.

By the end of 2014 SMA expects to have 3,000 full-time workers in Germany.