(Repeat as roundup.)
NIESTETAL (dpa-AFX) – Struggling solar technology manufacturer SMA Solar has announced plans to cut around 350 more jobs worldwide by the end of 2026. According to the company, the majority of the planned job reductions will affect its headquarters in Niestetal, Kassel district, with just over 300 positions set to be eliminated there. In addition, the group aims to save another 100 million euros. By afternoon trading, SMA shares were up one percent. The management had already signaled deeper cuts with its most recent forecast downgrade in early September.
SMA is currently navigating a challenging economic phase and is pressing ahead with a corporate restructuring. Last year, the company had already announced plans to cut 1,100 jobs worldwide by the end of 2025, including approximately 700 positions in Niestetal and 400 more abroad. The restructuring was expected to save up to 200 million euros – about half through job cuts, and the remaining 50 percent through reductions in corporate expenses such as material costs, service providers, advertising, and marketing.
Over 100 Million Euros in Additional Annual Savings
Now, the ongoing restructuring and transformation program must be expanded in light of "a persistently weak market and immense price pressure in the residential and commercial sectors," explained SMA CEO Jürgen Reinert, according to the statement. "This includes additional annual savings of more than 100 million euros and a further reduction of about 300 full-time positions in Germany."
According to the release, SMA also plans to improve its research and development spending. The company intends, among other measures, to adjust its product portfolio, make greater use of its existing competence center in India, and withdraw from unprofitable markets. "Furthermore, additional savings potential is to be realized throughout the company, primarily by further streamlining the corporate center and reducing operating costs," the group explained.
Job Cuts Set to Begin January 2026
The company has already initiated preliminary discussions with the works council regarding the necessary further job cuts. Official negotiations are scheduled to start next week and conclude in November. Implementation of the job reductions is planned to begin in January 2026.
The SDax-listed company, which produces inverters for photovoltaic systems, employs 3,800 people, 2,800 of whom work in Niestetal. Last year, the solar technology manufacturer slipped into the red amid a slump in orders and tough competition from Chinese manufacturers. In 2024, the group result fell to minus 118 million euros. In the previous year, thanks to high demand, the company had posted a profit of around 226 million euros./nis/DP/men
