Tag Archives: financial crisis

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

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