Longi Layoffs Speed Shift in Solar Production Away From China

(Bloomberg) — Layoffs at Longi Green Energy Technology Co. Ltd., the world’s biggest solar manufacturer, will likely accelerate a global rebalancing of production capacity away from China.

Longi, which employed as many as 80,000 people at one point last year, said on Monday that it would trim about 5% of its workforce. That followed a Bloomberg story in which several people familiar with the matter said that as many as 30% of staff at the Chinese solar giant could lose their jobs.