REC Solar says it has decided to reduce its second-quarter production of solar cells and modules by close to 50%.
Due to the challenging market environment for the solar industry in the first quarter of this year, the company has experienced solar cells/modules inventory build-up. Consequently, the company will cut production volume, affecting approximately 180 employees through through terminations of temporary employment contracts, temporary layoffs of permanent employees and rescheduled vacations.
With good contract coverage, however, REC does not expect changes to the production of cells and modules in the third and fourth quarters of 2009.
SOURCE: REC Solar