First Solar to cut 30% of its workforce

Source: Bloomberg
Solar manufacturer First Solar Inc announced on Tuesday it will eliminate 2000 jobs through 2012, making the largest staff cut across solar industry since the bankrupt Solyndra fired 1100 workers on August 31. First Solar reported it also will cut production output. Solar producers are suffering from subsidy reductions in Europe and falling natural gas prices which make solar energy less competitive. 

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