Conergy avoids layoffs at Frankfurt/Oder plant through short-time work

Oct 1, 2013 - Insolvent solar systems producer Conergy AG (ETR:CGYK) will be able to keep its site in Frankfurt/Oder, northeastern Germany, operational and cut no jobs thanks to a new deal.

Subsidiary Conergy SolarModule GmbH & Co. KG has reached an agreement with the Employment Agency to keep all of the around 300 workers at the site by introducing short-time work.

Sven Starke, head of Conergy SolarModule, said the company was pleased with the deal since keeping the entire staff employed till a takeover by an investor was its highest priority.

The production will be continued and adjusted to the number of received orders. The order situation is stable, Starke said, although the plant will not be working at full capacity in the first weeks of October.

Unlike in Frankfurt/Oder, Conergy will have to cut jobs at its plant in Rangsdorf. As many as 50 workers will be laid off as of October 1. The remaining 100 employees at Rangsdorf will keep their positions for now.

The group's insolvency administrator is expected to present new investors for both the site in Frankfurt/Oder and in Rangsdorf by the end of October 2013.

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