SunEdison to cut 15 percent of its workforce, restructure

Ahmad Chatila, CEO of SunEdison Inc. | Photo courtesy of Ahmad Chatila/Twitter
Ahmad Chatila, CEO of SunEdison Inc. | Photo courtesy of Ahmad Chatila/Twitter

Maryland Heights-based SunEdison Inc. said it would cut about 15 percent of its global workforce as part of a restructuring plan to integrate the businesses it bought recently.

On Monday, the company also said it planned to take steps to optimize its business operations and accelerate cash flow by “removing duplicate activities” resulting from mergers and acquisitions.

SunEdison, which has been making multimillion-dollar investments and taking a hit in the stock market, said in release that it will focus on markets with high profit potential, such as the U.S., India, China and Latin America.

The solar power company has about 1,400 unionized employees worldwide.

Read more from the St. Louis Business Journal and St. Louis Post-Dispatch


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