Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hanwha Q Cells, a German-South Korean solar company, will cease the production of solar cells and modules in Bitterfeld-Wolfen by 1 March 2015. This will result in around 550 jobs being made redundant.
In order to stay competitive on the global market for solar products, Hanwha Q Cells seeks to decrease production costs and will therefore relocate its production. It is not sure yet where production is going to take place in the future. The company's research and development section, technology and quality management will not be affected by the job cutting and the company will continue to employ 350 people in Germany. In the following weeks, a detailed restructuring programme is to be negotiated with the company's works council.
UPDATE 2015-02-26: As reported by daily newspaper Mitteldeutsche Zeitung on 26 February 2015, management and works council agreed on reducing the number of dismissals from 550 to 470. A total of 370 employees will remain in Thalheim. Those who will be given notice will be able to change into a transfer agency or receive financial compensation.
Eurofound (2015), Hanwha Q Cells , Relocation in Germany, factsheet number 78224, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78224.
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