MiaSolé Announces Layoffs
Greentech Media
MiaSolé, the Kleiner Perkins- and Vantage Point-backed CIGS solar company, has laid off 30 percent of its workforce, according to sources close to the company. A company spokesperson has verified that there have been layoffs, but did not specify the extent of the reduction-in-force.
We understand that many of the layoffs have occurred in engineering and equipment design groups. Which seems a rational place for cost cutting – why maintain an equipment design engineering force when the equipment is already fully designed?
John Carrington assumed the MiaSolé CEO position in December, taking over for Joseph Laia.
The first news out from the new CEO was a plea for a partner, any partner. The CEO was quoted as saying, “A lot of companies are interested in this space, and if we could find the right partner, that could help make MiaSolé a more long-term enduring company [and] that’s good for our shareholders and our employees, then I would support that strategy,” according to a Reuters piece. “The strategics are actively looking at different players in the market, and I would say that MiaSolé is a company that is included in that,” he added.
A source has indicated that MiaSolé is for sale. But every solar company is for sale these days — except perhaps for First Solar and the leading Chinese crystalline silicon firms.
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