Chinese wind giant Sinovel idles 350 staff after 'tough year'

Sinovel blames delayed implementation of projects owing to new wind policies

Sinovel, China’s second-largest wind turbine maker, is idling 350 workers from next week as the company responds to declining demand and falling profits.

The company told the workers, mainly from its R&D department, that they will receive one more month’s salary before their pay is cut to 80% of the minimum wage for Beijing.

The news, first reported by Chinese news portal Sina.com and confirmed by a Sinovel insider who does not wish to be named, comes a few weeks after the group reported its worst quarter since listing in January 2011.

The company recorded a third-quarter loss of 280m yuan ($44.9m) compared with a 242m yuan in profit a year earlier, while its operating income…

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