Blaming "deteriorating market conditions in Europe," First Solar is cutting nearly a third of its workforce, or 2,000 jobs, to cut down on costs.
The Tempe, Ariz. based company makes photovoltaic panels and other sources of alternative power -- an industry that has been hit hard by plummeting prices.
The bulk of the jobs lost -- some 1,200 positions -- will be in Germany, primarily because of an impending factory closure in Frankfurt. First Solar will also idle production lines in Malaysia this year.
NEXT: Kraft Foods boots 1,600 workers
