Forget all that ” Beyond Petroleum” nonsense, BP (BP) is gutting part of its alternative energy program:
Guardian: BP is to axe 620 jobs from its solar power business – more than a quarter of that workforce – in a move it said was part of the long-term strategy to “reduce the cost of solar power to that of conventional electricity.”
Two cell manufacture and module assembly plants near Madrid, will be shut with the loss of 480 posts while module assembly will also be phased out at its Frederick facility in Maryland, US, with a further 140 redundancies.
The company blamed the weak economic environment, in particular the credit crunch. BP needs to slash costs where it can because the low price of oil is hurting the company’s performance for the year. BP’s CEO Tony Hayward has repeatedly said oil needs to be at $60 for the company to be profitable. Oil is now sitting at under $50, as it has all year long.
This is also the second round of solar layoffs by a major corporation in the past week. Last week GE laid off staff at a solar plant in Delaware.
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