First Solar Inc.
December 15, 2011
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First Solar Inc., the world’s largest maker of thin-film solar panels, reduced profit estimates for this year and next and said it will cut about 100 jobs as it shifts its focus to large-scale utility plants. The company’s second restructuring in six weeks caused the stock to plunge 21 percent to its lowest price since February 2007. The shares have declined 74 percent this year, the largest drop in the Standard & Poor’s 500 Index. Most of the job cuts will occur at a research unit in California.
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