First Solar restructuring leads to loss of $449M; announces new CEO

04 May 2012 by

BUSINESSWEEK - A shakeout that is rattling the solar panel industry has sent First Solar, once among the industry's biggest and strongest companies, to a wide quarterly loss.

First Solar Inc. said Thursday that it lost $449 million in the first quarter, mostly due to a restructuring announced last month that will eliminate 30 percent of the company's workforce and close a newly-expanded plant in Germany.


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