First Solar (FSLR) announces a major restructuring in which it will cut 2,000 jobs - or 30% of...

|By:, SA News Editor

First Solar (FSLR) announces a major restructuring in which it will cut 2,000 jobs - or 30% of its workforce, close a plant in Frankfurt, and indefinitely idle four production-lines in Kulim, Malaysia. First Solar expects savings of $100M-$120M a year, but will take charges of $245M-370M. Company also pays down $145M of debt. (PR)