The Germany-based company has introduced reduced working hours from October 1 at its factory in Prenzlau. Company spokesman, Hermann Iding told pv magazine aleo solar and the workers council have taken the measure to ensure job security.
The photovoltaic manufacturer has recorded weak sales for the last few months, due to the simultaneous lowering of solar subsidies in almost all of the companys key markets. As such, demand for its products in Germany, Italy, France, Belgium and the U.K. has faltered.
"In order to reduce increased inventory, we need to reduce production volumes and adjust employment," continued Iding. He added that employees had previously reduced their working time accounts and contracts with temporary workers were not extended. It is expected that production in Prenzlau will ramp up again early next year.
Due to the negative sales trend, the board of aleo solar again downgraded the companys sales and earnings forecasts last week.
Translated by Becky Beetz.
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