©q-cells Electronics Production | August 30, 2012
Job losses confirmed in sale of Q-Cells
Creditors have approved the sale of Q-Cells' business operations to the South Korean conglomerate Hanwha. Job cuts will be made in Q-Cell's adminstration division.
Insolvency administrator Henning Schorisch signed the contract last Sunday. As part of a “transferred restructuring process”, Hanwha Group takes over 1,250 employees out of a total headcount of roughly 1,550 as well as most parts of the total Q-Cells Group. In Germany, this pertains to the site in Bitterfeld-Wolfen with solar cell and solar module research, development and production as well as the administration site in Berlin; abroad, to the production site in Malaysia with an unchanged number of about 500 employees as well as some international sales companies. The integration will mainly lead to job cuts in Q-cells’ administration division, as there is considerable overlap with the organisational structure of the Hanwha Group. “In the current macroeconomic and political environment, which is extremely difficult for Q-cells, it is a great success that we managed to maintain not only research and development, but also the production capacities at the Bitterfeld-Wolfen site,” Schorisch emphasised at the Q-cells headquarters in Bitterfeld-Wolfen. “While I regret the fact that there are certain job losses, I am very happy that Q-cells has found a strong partner in Hanwha, who has the necessary means to provide company, brand and staff with long-term perspectives again.”