PV manufacturer Isofoton will draw up a restructuring plan which is expected to impact 380 employees at its Malaga factory.
Gemma Martín, Director of Communications at Isofoton, said the proposals could involve salary cuts, a reduction in working hours and the possibility of layoffs. The company now has 30 days to discuss its proposals with the workers' union in order to reach a conclusion that will align its staffing levels with market demand.
Martín said the situation at its Malaga plant would have no effect on its factory in Napoleon, Ohio in the US.
The company said it was also planning negotiations to refinance its debt with suppliers in order to ensure its viability and to improve its efficiency worldwide given the current state of the photovoltaics sector and the broader economy.