Germany's Solarworld Cuts Jobs, Production as Loss Widens
Solarworld said on Friday it would cut 12 percent of its workforce after reporting a bigger operating loss for last year.
The company, hit by price pressures across the solar industry, said it would phase out production of some components at its factories to reduce overlap, which would result in about 400 job cuts by 2019.
"These measures will decrease costs and increase efficiency significantly," Chief Executive Officer Frank Asbeck said in a statement. "Our aim is to come out of the difficult phase for the solar market stronger than before and to raise module shipments to about