Under fire from nearly every angle, Q-Cells chief executive Anton Milner announced a dramatic shift in the company’s strategy which includes trimming nearly a fifth of its 2,600-strong workforce, only weeks after insisting that jobs in Germany would not be lost to its new manufacturing facility in Malaysia.
The loss includes a write-down on the sale of its share in Norway’s Renewable Energy Corporation (REC) in May, and an estimated €50m hit as a result of being locked into long-term silicon wafer contracts.
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