Taiwan Solar cutting 20% of its workforce
Taiwan Solar Energy Corp, a major solar cell manufacturer, is cutting 20% of its workforce, or about 275 jobs, as it continues to struggle due to an industry slump.
The planned job cuts are part of the company’s efforts to streamline production.
Taiwan Solar Energy said it would move affected employees to its module factory in Pingtung County or assist with securing other jobs, while foreign workers will be helped in returning home, the company said.
In a statement to the Taiwan Stock Exchange, Taiwan Solar Energy said the company is adjusting its product strategy to concentrate on manufacturing higher-margin passivated emitter rear contact solar cells and solar modules.
The workforce adjustment will help Taiwan Solar Energy accelerate its turnaround efforts.
(Taiwan Solar Energy follows other local solar firms looking to survive the bad economy through layoffs and restructuring.
In September, Motech Industries, a solar cell maker, let go of more than 300 roles held by foreigners, along with 60 locally-held ones.