MiaSole Reportedly Laying Off 200 Workers As Part Of Company Reorganization

Posted by SI Staff on August 09, 2012 No Comments
Categories : New & Noteworthy

UPDATED:

MiaSole, a manufacturer of copper indium gallium selenide (CIGS) thin-film photovoltaic solar panels, says it will reorganize manufacturing and operations in an effort to save costs. The reorganization has led to the layoffs of more than 200 people, according to VentureWire.

MiaSole has not yet confirmed the layoff numbers. In a press release, it states that it is reorganizing its workforce to retain employees in the technology, commercial and flexible product areas and make reductions in manufacturing and operations.

This course of action is designed to allow MiaSole to continue strategic discussions with potential partners as it works on continued CIGS development and execution of its sales pipeline. CEO John Harrington says he is ‘confident’ that the company will finalize a partnership within the next 60 to 90 days.

MiaSole points out that it has received no government funding, and although it has had access to tax credits, it has never used them. According to VentureWire, the company has raked in more than $500 million in private venture capital during its lifetime.

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