Solar Energy News  
SOLAR DAILY
Spain's Abengoa to shed more jobs on top of 10,000 already gone
by Staff Writers
Madrid (AFP) May 3, 2016


Spain's troubled energy giant Abengoa announced a new wave of layoffs Tuesday, having already shed more than a third of its global workforce in just months, going from 28,000 employees last year to 17,000 now.

On the verge of bankruptcy after years of unsustainable expansion, the renewable energy firm announced in November it was filing for preliminary protection from creditors in Spain, and has until October to strike a debt restructuring deal with creditors.

The world player in solar and wind power, biofuels and water management has already launched a recovery plan that includes the sale of biofuels assets and other non-strategic holdings, as it seeks to reduce debt of more than nine billion euros ($10.4 billion).

On Tuesday, the Seville-based group said it planned to lay off up to 10 percent of its workforce in Spain -- or around 500 people -- "to adapt to its new reality."

"This reorganisation aims to resume the company's normal activity at maximum speed," it said.

"Abengoa's workforce worldwide is of more than 17,000 people, of whom around 5,000 are in Spain," the group added in a statement -- a marked decrease from the 28,121 people it said it employed globally at the end of 2015.

A source close to the group, who wished to remain anonymous, said the decrease was due to the sale of assets, voluntary departures and lay-offs.

The source said that in Brazil, where Abengoa has a big presence, the group parted with thousands of workers in plantations of sugar cane used for its biomass-fired power plants -- but had no exact breakdown per country or region.

The company, which has renewable energy projects spanning four continents, generated 86 precent of its turnover last year outside of Spain.

North America is its largest market, followed closely by South America.

mck/mbx/jm

ABENGOA


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Solar Energy at SolarDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
SOLAR DAILY
Solar Impulse 2 completes Phoenix-San Francisco leg
San Francisco (AFP) May 3, 2016
The Solar Impulse 2, an experimental solar-powered aircraft, landed in Phoenix, Arizona late Monday, completing the latest leg of its around the world journey to draw attention to clean energy technologies. Pilot Andre Borschberg put the long, light, propeller-driven aircraft down at Phoenix Goodyear Airport at 10:03 pm (0403 GMT) after a 16 hour, 10 minute flight from Moffet Airfield southe ... read more


SOLAR DAILY
Weltec Biopower presents solutions for energy from waste and wastewater

Making biodiesel with used cooking oil and a microwave

Major advance in synthetic biochemistry holds promise for biofuels

Recyclable, sugar-derived foam as renewable alternative to polyurethanes

SOLAR DAILY
New tools for human-machine collaborative design

Algorithm for robot teams handles moving obstacles

Robots could get 'touchy' with self-powered smart skin

University of Sussex research brings 'smart hands' closer to reality

SOLAR DAILY
Report: U.S. wind energy sector booming

El Hierro, the Spanish island vying for 100% clean energy

USGS finds cranes isolated from wind farms

Iowa puts faith in wind energy

SOLAR DAILY
Google autonomous car project teams with FiatChrysler

China's Baidu eyes driverless car production by 2020

New graphene-based film may keep your next laptop cool

Volkswagen vows to overcome emissions-cheating crisis

SOLAR DAILY
Anomalous sinking of spheres in apparently fixed powder beds discovered

Quantum sensors for high-precision magnetometry of superconductors

Creation of Jupiter interior, a step towards room temp superconductivity

China produces key component for nuclear fusion facility

SOLAR DAILY
Ancient glass-glued walls studied for nuke waste solutions

India's Mainland to Host Next Hub of Nuclear Plants

German power giants to pay into public fund to finance nuclear phase-out

BWXT tapped for nuclear reactor components, fuel

SOLAR DAILY
Could off-grid electricity systems accelerate energy access

Changing the world, 1 fridge at a time

EU court overturns carbon market free quotas

Global leaders agree to set price on carbon pollution

SOLAR DAILY
Cambodia to add 1 million hectares of protected forest

US national forests and grasslands could yield less water in future climate

Which trees face death in drought

Researchers look at how best to conserve forest giants









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.