Quest One will terminate around 120 jobs at the company’s Hamburg and Ausburg sites in Germany in a bid to strengthen its competitiveness.
In an online statement, the German firm, formally known as H-TEC Systems, said it is “reacting to an overall tense economic situation and a ramp-up of the German and international hydrogen economy that has lagged behind expectations.”
The restructuring programme will focus on significant cost reductions to increase the company’s competitiveness and to align internal capacities with the current market situation.
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