| 1. What are the two key mistakes beginners make in
reading trends? 2. Which "key" chart pattern reveals a top or bottom is near? 3. What are the most reliable chart patterns? Answer these questions and more with your FREE 10 day trading course |
Suntech (STP) Cuts 800 Jobs
Suntech’s pre-global financial crisis plans included hiring 2000 more employees and expanding its capacity to 1.5 GW in 2009. Instead, plans for expansion have been put on hold, and the company has laid off 800 of its employees, 10% of its workforce. According to TradingMarkets.com, the cuts were made on the basis of competency, with the least competent employees being laid off.
TradingMarkets.com also offered some further analysis on Suntech:
The company’s plants are running smoothly currently. These plants operated around 85% of their production capacity before the financial crisis and now the load is 50%-plus.
Suntech would post zero grass profit margin for October-December 2008, because prices of solar cells and modules slumped, it had to digest raw materials purchased at higher price and some consumers lengthened payment schedules, said Mr. Shi. He was not optimistic about the company’s prospect in early 2009 due to excess supply of solar cells, but he expected the situation to improve in March-November.
An alternate way to make money off energy. Click here for your free report.
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
No comments yet.
Leave a comment