SMA follows through with job cutbacks

Niestetal, Germany - The Managing Board of SMA Solar Technology AG (SMA) has informed the company

To respond to the changing conditions in the global photovoltaic market and the associated strong decline in sales, a gradual downsizing of 700 full-time positions in Germany is planned by December 31, 2014.

"We are expecting an extended period of consolidation in the solar sector. For the first time in many years, measured in Euros, the global photovoltaic 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

Source: IWR Online, 04 Jul 2013