SMA 'plans big job cuts' – report

German inverter maker SMA Solar plans to cut about 1,000 of its more than 5,000 employees world-wide to counter massive revenue losses, regional newspaper Hessische Niedersächsische Allgemeine claims.

When asked about the report by Recharge, a company spokesman today made no comment. SMA will publish its first-quarter results tomorrow (Wednesday).

When announcing plunging profits for 2012 in March, amid increasing price pressure and tougher competition, the company already had said that it predicts a difficult 2013 and can’t exclude a potential loss for the full year.

Unlike many other solar firms, SMA at least stayed in the black in 2012, posting a net profit of €75.1m ($96.5m).