First Solar Drastically Cuts Jobs, Restructures

By Published On: April 20, 2012

Citing “deteriorating market conditions” First Solar is laying off employees at two foreign solar panel manufacturing facilities, shaving 2,000 jobs, the company announced April 17. While most job losses were in its German and Malaysian plants, Mark Windmar, company chief financial officer, said U.S. workers will also see cuts. “Mainly in non-manufacturing,” he added. “The current business structure is not sustainable given today’s market realities,” Windmar said. In California, First Solar has five projects with contracts for electricity--Topaz, 550 MW; Sunlight, 550 MW; AV Solar Ranch One, 230 MW; Imperial Energy Center, 130 MW; and Alpine, 66 MW. Company executives said the move is not “window dressing” in advance of putting First Solar up for sale. The day after the announcement, the company is reportedly being removed from the NASDAQ 100.

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