SunPower to cut additional 2,500 jobs

[geronl]

SunPower on Wednesday announced plans to shed jobs for the second time this year as the solar-panel maker navigates turbulence in the renewable energy business.

The San Jose, Calif.-based company (SPWR) said it would cut 2,500 employees, representing about 25% of its workforce, and shutter a 700-megawatt factory in the Phillippines.

The move comes less than five months after SunPower announced plans to lay off 1,200 workers, or about 15% of its workforce at the time. The latest cuts are in addition to the previous job reductions, SunPower spokesperson Natalie Wymer said in an email.

http://www.usatoday.com/story/money/2016/12/07/sunpower-jobs/95083386/

It's funny that a solar power company blames the extension of installation tax credits for their problems. This company likely would not exist but for those kinds of subsidies.

[truth_seeker]

In my California area we get lots of sun. Ideal for solar. Feds and state give "subsidies," in various ways.

Therefore we are constantly being solicited. But I don't come near a point where it works, even with subsides. I use little electricity due to no pool, no air conditioning, etc.

IF we are hell bent to raise the prices of energy by blocking coal and oil, then someday solar might make economic "sense."

But not yet.

[IsailedawayfromFR]

Good. The racketeering between the renewables industry and the politicians wasting taxpayer monies must stop.