On September 18, Swiss solar panel manufacturer Meyer Burger officially announced a restructuring plan aimed at optimizing its operational structure and enhancing competitiveness. The plan includes significant changes in senior management and a global workforce reduction, with about 20% of the company’s over 1,000 employees—approximately 200 positions—expected to be cut.
CEO Gunter Erfurt and CFO Markus Nikles will step down, with Chairman Franz Richter taking over as CEO. This leadership change marks a new era for Meyer Burger, with the goal of guiding the company through challenges and toward sustainable growth.
The restructuring plan is part of a series of strategic adjustments Meyer Burger has undertaken over the past six months in response to industry challenges. Earlier in 2024, the company announced its intention to close its solar module production facility in Germany, a decision set to take effect in April 2024 after months of evaluation. The closure of the Freiberg plant, a key solar manufacturing site in Europe, will affect around 500 employees.
In an official statement, Meyer Burger highlighted the worsening European market conditions, driven by strong competition from China’s solar industry and complex international trade restrictions, including measures implemented by the U.S. and India. These factors have contributed to an oversupply and market distortion in Europe, forcing the company to make difficult decisions.
The company had previously planned to build a 2 GW solar cell manufacturing plant in Colorado, with hopes of capitalizing on $1.4 billion in tax credits over the next decade under U.S. investment tax credit programs. However, after a thorough economic feasibility review, Meyer Burger has decided to suspend the project, as well as halt expansion plans for its Goodyear module plant in Arizona.
This restructuring plan will have a profound impact on both Meyer Burger and the broader solar industry. It reflects the significant challenges facing the sector and demonstrates the company’s determination to seek a breakthrough and transformation amid adversity.
