SolarWorld Americas planning major restructuring to survive

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The WARN Act relates to companies employing over 100 people, giving employees a minimum of 60 days notice of job losses. Image: SolarWorld

SolarWorld Americas the US manufacturing subsidiary of bankrupt SolarWorld AG expects to undertake a major restructuring to attempt to survive after telling its workforce of over 800 that they could receive notices of being laid-off at an undetermined time as part of the WARN (Worker Adjustment and Retraining Notification) Act.

Recently, US-based cell and module manufacturer Suniva filed for bankruptcy but did not provide its workforce with WARN notifications before closing its doors. The WARN Act relates to companies employing over 100 people, giving employees a minimum of 60 days notice of job losses.

A SolarWorld Americas spokesperson was reported to have said that the company was in the process of evaluating its position to continue operating albeit with the need to re-size the company after its parent company started preliminary insolvency proceedings.

Soon after its parent company started insolvency proceedings, SolarWorld Americas said separately that it was planning to operate its manufacturing plant in Hillsboro, Oregon and other operations as normal.

Read Next

July 9, 2021
German renewables asset operator Blue Elephant Energy has shelved plans for an initial public offering (IPO) after it secured a €75 million (US$88.8 million) cash injection.
July 6, 2021
Poland’s R.Power has entered the German solar market after signing co-development agreements with local developers to collaborate on PV projects in the country.
July 1, 2021
Heterojunction cell and module manufacturer Meyer Burger has raised approximately US$258 million through the placement of shares and green bonds as it looks to accelerate its push into international solar module markets.
June 23, 2021
Major system-wide benefits are obtainable for European power producers that quickly replace coal with renewable energy, from avoiding fuel and carbon costs to new power export opportunities.
June 2, 2021
Solar cell manufacturer Maxwell Technologies has celebrated a record mass production efficiency for its heterojunction (HJ) solar cell.
June 2, 2021
The first phase of GCL System Integration Technology's (GCL-SI) 60GW module factory in Hefei, in China’s Anhui Province, is on track to start production this September.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK