Source from Suntech Power Dramatic Decline Of Output
According to reliable sources, Suntech Power China has cut at least half jobs and is preparing for further cutting.
Unconfirmed sources say that one of the China’s biggest solar companies, Suntech Power Co, based in Wuxi China has seen a decline recently because of financial crisis.
One worker worked in the old production line told reporters that he was told to maintain only one day at work in one week. That is to say he’s only paid one day salary per week, if not worse.
Another street source told reporters that Suntech Power had already closed or temporarily closed at least 24 production lines which represent 50% of its production. Unreported and unconfirmed data show that 2,000 workers have lost their jobs.
Other big solar companies have all suffered recently, however some medium companies that have not come into market are not hit very hard. According to some sources from China Municipal Bureau of Foreign Trade & Economic, some medium solar companies in China have put more resources in R&D and they are able to pass the crisis safely because they didn’t put a lot of sources into production in the last three months and they did not leave too many stocks to sell. The good management was working in these companies.
Although Suntech Power is not likely to be dead, the current situation will certainly do harm to its reputation.