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Following layoff of over 300 foreign laborers last week, Motech Industries, a major PV power firm in Taiwan, announced layoff of 60-plus non-production line employees, around 2% of such manpower.
The company pointed out that following the layoff, it still has a non-production line workforce of around 2,700, adding that its Q4 business performance will be better than Q3, thanks to changes in its business strategy.
The company's has been in the red for six of the past seven years, with accumulated deficit having topped NT$10 billion. Impacted by China's 531 new policy, it incurred NT$2.075 billion of loss in Q2 this year, with capacity utilization rate plunging to 20-30%, compared with NT$1.069 billion loss, or NT$1.99 per share, in Q1. To cut loss, it suspended operation of the crystal growth plant in June.
(First photo courtesy of BlackRockSolar via Flickr CC BY 2.0)