SMA Solar announces plans to cut up to 350 more jobs - SMA Solar Announces Major Restructuring Plan Amidst Market Challenges
SMA Solar, a prominent solar inverter manufacturer, has unveiled a substantial restructuring plan due to a challenging market and fierce competition. The company's net income nosedived to a loss of 118 million euros in 2024, prompting a review of its operations and a decision to cut jobs and optimize spending.
SMA Solar, which employs 3,800 people worldwide with a significant presence in Niestetal, near Kassel, will retreat from unprofitable markets and optimize research and development spending. The company plans to shed around 350 jobs globally by the end of 2026, with most of the planned job cuts, approximately 300, affecting its headquarters in Niestetal.
The company aims to achieve additional annual savings of over 100 million euros through these job cuts and other cost reductions. It has initiated talks with the works council about the further job cuts, with official negotiations set to begin next week. The company plans to commence implementing the job cuts in January 2026.
The significant customers of SMA Solar in Germany that could be affected by the planned job cuts are mainly from the Home & Business Solutions division. This division serves private and small commercial photovoltaic systems in the core German market, where demand is declining sharply. The company is expanding its restructuring program due to a persistently weak market and immense price pressure.
SMA Solar's restructuring plan, including job cuts and cost reductions, aims to save another 100 million euros. The company is committed to addressing the challenges posed by a persistently weak market and intense competition. It has begun discussions with the works council to ensure a fair and orderly process for the affected employees.
