Fronius to cut 350 jobs

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From pv magazine Germany

Fronius plans to cut 350 jobs, according to the Austria Press Agency (APA).

The company will reportedly reduce its workforce, particularly at the Sattledt production site. It blamed the “current solar crisis” for its decision.

By the end of 2023, Fronius had already reduced working hours and temporary workers. The company said at the time that it was “well prepared” for the year ahead.

According to the APA report, the company introduced internal short-time work for 1,000 employees in PV production, but the situation worsened in the first two quarters of 2024.

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Fronius invested around €420 million ($456.8 million) to expand production and hired 2,000 new employees after failing to meet the surge in demand for PV products at the start of the natural gas and energy crisis.

However, wholesalers are reducing inventories more slowly than anticipated. In Austria, new PV system installations have already fallen 30% to 40% from 2023 due to declining energy costs and funding uncertainty. In Germany, the rooftop PV market has halved, the company reportedly said. A direct inquiry from pv magazine to Fronius went unanswered.

According to the agency report, Fronius also cited “dumping prices from manufacturers in China, who have flooded the European market with products that are sometimes below production costs” as the reason for its current problems. European politicians have yet to react decisively to the matter.

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