Major renewable energy firm, SunEdison is undertaking a round of redundancies as a result of its numerous acquisitions to reduce duplication and simplify its business structure.
Although the company did not specifically refer to redundancies, PV Tech had been told by people within SunEdison’s European operations that a ‘resizing’ that would include job losses was underway due to its acquisition trail and not indicative of any financial troubles.
SunEdison said in a statement that it would be reducing duplicated activities created as a result of recent mergers and acquisitions (M&A) activity as well as business growth, through centralizing global business development and operations, and consolidating global support teams that included legal and financial operations amongst its subsidiaries.
Further details of the changes are to be provided in a business update during an investor conference call to be held on Wednesday, October 7, at 8:00 am EDT.
The company also suffered a silane explosion at its polycilicon plant in Pasadena, Texas on Friday, resulting in four workers being injured.