Caixin
Nov 07, 2018 05:49 AM
FINANCE

Solar Firm Hanergy Cutting Thousands of Jobs

Hanergy plans to terminate half of its staff by the end of this year, sources say. Photo: VCG
Hanergy plans to terminate half of its staff by the end of this year, sources say. Photo: VCG

Solar energy conglomerate Hanergy Holding Group is moving to cut nearly half its workforce by the end of this year, shortly after it unveiled a $7 billion plan to take its Hong Kong-listed unit private.

The terminations started this week, sources close to the company told Caixin. On its official website, Hanergy reports 15,000 employees. In addition to the job cuts, employees in sales and other departments face salary reductions, the sources said.

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