Just over a week after Solar-Fabrik was granted the right to self-administration insolvency, the application of which had been initially rejected by the district court in Freiburg at the start of May, the company has announced it will let 65 people go.
In a statement issued, the company said it had reached an agreement with the workers' council. "The individual separations will be communicated by the end of May and will lead to cost reduction within the following three months due to insolvency regulations," it read.
The decision to reduce its workforce to 90 is expected to lead to "massive" cost reductions and, thus, make the company more attractive to potential investors, says Solar-Fabrik.
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