Taiwan Solar cutting workforce
It is being reported in the press that Taiwanese solar firms are seeking to survive the industry downturn by cutting jobs as part of efforts to streamline production.
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, which is to be completed this quarter.
Taiwan Solar Energy is the latest in a slew of local solar firms seeking to survive the industry downturn by cutting jobs.
In September, Motech Industries, a solar cell maker, terminated more than 300 foreign labour jobs, and 60 local ones.