REC trims workforce by 3% but upgrades at Singapore production plant continue

October 4, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
The company said that US$48 million in capital expenditure plans to upgrade all production at its manufacturing facility in Tuas, Singapore to its half-cut PERC cell technology, used in its ‘TwinPeak’ series modules would continue. Image: REC

Integrated PV module manufacturer REC Group has said it has trimmed its global workforce by 3%, or around 65 jobs out of approximately 2,200 employees.

The PV module manufacturer told PV Tech that due to global solar market conditions, including significant price pressure on PV modules, like several other leading manufacturers in the solar industry, REC has had to implement some organizational restructuring. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Steve O’Neil, REC’s CEO stated, “Restructuring that involves layoffs is never pleasant.  But the result of REC’s restructuring puts us on a stronger path compete and grow. REC is also investing for the future; in state-of-the-art equipment for our new block production facility in Herøya, Norway, and in upgrades to our Singapore operations.”

The company said that US$48 million in capital expenditure plans to upgrade all production at its manufacturing facility in Tuas, Singapore to its half-cut PERC cell technology, used in its ‘TwinPeak’ series modules would continue.

“REC has a long track record of continuous improvements in both cost and performance of our PV modules.  This is one more step in our journey to achieve ever higher efficiency and productivity” adds O’Neil.

Although REC is no longer a publically listed company after being acquired by Elkem Bluestar in 2015, the company had provided regular quarterly business updates until the first quarter of 2016. 

According to PV Tech’s analysis of reported job losses, upstream manufacturing supply chain job losses reached around 1,314 in September, 2016, up from around 1,000 job losses announced in August. 

REC’s job losses were announced internally near the end of September. 

Read Next

October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
Sponsored
October 22, 2025
LONGi vice president Dennis She discusses the value logic behind the company's strategic focus on back contact technology.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$775 million.
October 20, 2025
Details of tariffs on US imports of polysilicon products may be announced as early as the end of this month, according to a note from investment bank Roth Capital.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal