Fronius to cut 650 jobs

Austrian inverter maker Fronius has cut another 650 jobs due to high inverter inventories and no expected upturn. From pv magazine Germany The solar industry posted record growth in 2023, with 2. 6 GW added in Austria, 56 GW in Europe, and almost 450 GW worldwide. Many companies, including Austrian inverter and storage system manufacturer Fronius, responded by ramping up capacity and hiring new employees. However, there has been no exponential demand growth in recent months, and by the end of last year, Fronius began to doubt its positive market assessment due to order cancellations. The company ...

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