Switzerland-based Sputnik Engineering, well known under its PV inverter brand, SolarMax, is following SMA Solar in restructuring its operations as markets shift away from Europe and the PV industry becomes increasingly global.
The company said that it was in consultation with its employees to cooperate on possible staff reductions at its headquarters in Biel, Switzerland. Staff reductions could be in the region of 60 to 70 from its current level of around 300.
Sputnik Engineering is planning a comprehensive realignment and redirection of the company, though provided little more on what these adjustments would be.
CEO, Christoph von Bergen, told PV Tech via email that the “the PV industry faces difficult times on a global scale. With continually changing political regulations and market conditions, Sputnik Engineering has decided to intervene in time and restructure in order to focus on its key competencies and be well positioned for future challenges.”
Von Bergen acknowledged that the PV inverter market was also going through a period of consolidation but believed the company was capable of being a major player in the future growth of the sector.
“SolarMax still believes that this is part of the consolidation process and that the PV market will continue to grow globally,” added von Bergen. “SolarMax aims to further participate in the global expansion of PV and continually assesses new international markets regarding their potential for market entry.”
The company noted that it was unable to provide further information on the restructuring while mandatory consultations took place with its workforce.