18 Apr '12, 1am

First Solar to slash 2,000 jobs: via @ee_times

SAN JOSE, Calif.—Photovoltaic solar system provider First Solar Inc. said Tuesday (April 17) it would slash about 2,000 jobs and close manufacturing lines as part of a restructuring plan to reduce costs. First Solar (Tempe, Ariz.) said it would close an older manufacturing plant in Frankfurt, Germany, and idle indefinitely four production lines at its manufacturing center in Kulim, Malaysia, effective May 1. In addition to the manufacturing closures, other personnel reductions in the U.S. and Europe will contribute to the 2,000 job cuts, which represents about 30 percent of the company's global workforce, First Solar said. First Solar said the restructuring plan was undertaken in response to deteriorating market conditions in Europe and the need to reduce costs and align its organization with sustainable market opportunities. "The solar market has fundamentally changed, an...

Full article: http://www.eetimes.com/electronics-news/4371200/First-Sol...

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