Isofotón, the manufacturer of solar panels and with a presence in sixty countries, is reducing its workforce in Málaga as part of a restructuring plan made necessary by the current situation being experienced by the photovoltaic industry and the economy overall.
It is business as usual with the company but the restructuring will mean the loss of 380 of the 657 jobs at the factory in Málaga. A Temporary Regulation of Employment (ERTE) currently in effect in the company will become a full Regulation of Employment Expedient (ERE).
Isofotón is also looking to refinance its debt to suppliers to ensure the viability of the company and improve efficiency worldwide to deal with current conditions within the industry.
Isofoton, with presence in 60 countries, is one of the companies with the highest volume of activity in R & D in the field of photovoltaics, participating in 14 percent of ongoing projects in the photovoltaic industry just at European level in the period 2010 to 2014.