First Solar Cuts 2,000, Shuts German Factory
Tempe, Arizona-based solar panel manufacturer First Solar said late Tuesday that it is cutting 30 percent of its staff, or 2,000 positions, as it shuts a German factory and idles four production line sin Malaysia. First Solar said the move comes due to "deteriorating market conditions" in Europe. First Solar said the moves will save it $30 to $60 million this year, with $100 to $120 million annually from the cuts. First Solar did not say how many of its headquarters staff in Tempe would be affected by the move.
posted on Wednesday, April 18, 2012
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