News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/solyndra-consolidates-factories-sheds-40-workers.html

US-headquartered solar manufacturer Solyndra has revealed to NewNet that it has closed one of its factories in a move to consolidate its fabrication facilities into one, as part of a business plan it formed after gaining new CEO Brian Harrison in order to bring its financing on track.

The plan involves shedding up to 40 permanent staff and an additional 135 contractors and temporary staff, the company confirmed.
‘The new plan puts the company on a strong path to double production next year and accelerate our cost reduction roadmap. We have doubled revenues this year to about $140m and we’ll continue to grow rapidly next year,’ said company spokesperson David Miller.
The aim of the move is to save costs while increasing quality, power per panel and efficiency, according to the company.
Despite the job axes, Miller said the company will continue to hire in several areas such as sales and marketing. It employs around 1,100 people globally, with main bases in the US and Germany, and recently completed rooftop solar installations in Germany, France and Italy, totalling more than 3MW.
While reports suggested the company has lowered its production targets, Miller said Solyndra expects its new business plan will allow it to double its shipments next year and bring it into positive cash-flow by the end of next year.
Solyndra shelved plans to make an initial public offering earlier this year.