China's Longi, the world's largest solar manufacturer, plans to cut 30% of its workforce due to inflation, oversupply challenges, and falling solar cell prices.
China's Longi, the world's largest solar manufacturer, plans to cut 30% of its workforce in a cost-saving measure, as the renewable energy sector faces challenges from inflation and oversupply. The company, which had around 80,000 employees last year, began laying off workers in November. Global overcapacity and plunging prices for solar cells have forced manufacturers to sell at or below production costs, leading to canceled or paused investments and job losses in the sector.
March 18, 2024
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