LDK Solar cuts jobs as margins collapse

01 May 2012 by

REUTERS - Solar products maker LDK Solar Co Ltd said it cut more than 5,000 jobs this year as the industry grapples with a steep decline in prices that has decimated profit margins and pushed several companies into bankruptcy.

LDK Solar's shares, which had touched a six-month low of $2.55 earlier in the day following weak results and a bleak outlook, reversed course to close up 7 percent at $3.18 on the New York Stock Exchange.


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