Final week, SMA Photo voltaic introduced additional layoffs as a part of ongoing restructuring in its residential and industrial enterprise traces. The corporate plans to chop roughly 300 full-time jobs in Germany and 50 full-time jobs internationally in Asia and South America by the top of 2026. No U.S. jobs are included on this announcement, in accordance with an SMA spokesperson.
SMA first introduced restructuring plans on account of market headwinds in late 2024, when it cut 1,100 jobs.
“In view of the persevering with weak market and immense worth stress within the house and industrial sectors, we should develop our ongoing restructuring and transformation program, significantly within the Dwelling & Enterprise Options division,” mentioned CEO Jürgen Reinert.
SMA mentioned it’s also hoping to shore up financial savings by:
- an adjustment of the manufacturing technique that, by diminished vertical integration by way of {hardware} and an enlargement of in-house manufacturing capacities in Poland, permits stronger internationalization, and
- a extra environment friendly service technique with improved service occasions, diminished prices and adjusted costs.
The corporate has already begun preliminary discussions with worker representatives concerning the mandatory additional job cuts. Official negotiations will start subsequent Monday and are anticipated to be concluded in November. SMA plans to start implementing job cuts in January 2026.
“Whereas the enterprise with options for large-scale energy vegetation is creating very nicely and we now have been capable of develop our market place, we’re presently experiencing a powerful decline in new installations within the residential sector in comparison with 2024 — significantly in our core market, Germany,” mentioned CFO Kaveh Rouhi.
Information merchandise from SMA. Up to date at 1:31 p.m. ET
