Sept 11 Chinese solar panel maker Trina Solar
Ltd said it would cut an unspecified number of jobs and
separate its photovoltaic module and systems units to reduce
The announcement comes as Trina and other makers of solar
panels grapple with a sharp decline in panel prices that has
shrunk profit margins for nearly two years.
Trina's vice president of investor relations, Thomas Young,
said the company had not finalized the number of jobs that would
be cut, but added there would be a "reduction of significant
Weak demand in top solar market Europe and a rapid expansion
in global solar manufacturing capacity created a glut of solar
panels, sending prices into a tailspin in early 2011 and
continuing into this year.
Trina Solar's shares, which have shed about 35 percent of
their value this year, closed up 3.2 percent at $4.23 on the New
York Stock Exchange on Tuesday.