Global Solar Energy cuts 70% of staff

Dec 12, 2012 - US flexible solar technology firm Global Solar Energy Inc has cut 70% of its headcount as it keeps up with its sale process and continues to assess strategic alternatives, according to an announcement yesterday.

The company said it had implemented cost-cutting measures in order to preserve operations and had retained key technical staff and management together with a production team working on select customer orders. The job cuts mainly affected employees focused on the company's roofing product line, according to the statement.

Tucson, Arizona-based Global Solar Energy says it continues to operate. Inside Tucson Business reported at the end of November that the company seemed to have laid off the majority of its staff and stopped operations.

Chief executive Jeffrey Britt said that the company continued to work towards a solution that would preserve its copper indium gallium (di)selenide (CIGS) technology and production capabilities and that it had seen strong investor interest.

Global Solar Energy in June said it had hired FTI Capital Advisors to help it find a strategic investor. Its German subsidiary filed for insolvency later in June.

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