Business Journal: OptiSolar To Cut Jobs
A one-time bright spot in the local economy will greatly cut its operations, eliminating about 300 jobs.
Friday, January 9, 2009
OptiSolar Inc. will lay off half of its employees, including 105 at its solar-panel assembly plant at McClellan Park and another 185 at its headquarters in Hayward. It’s a dramatic move for the company that had expected 500 full-time employees at the local plant, and possibly as many as 1,000 during the next few years. The company cites all-too-familiar challenges for the decision -- the economy and a lack of funding. OptiSolar is attempting to conserve its cash while looking for more funding, a company executive said Friday. The company suspended construction of its plant at McClellan Park in November and planned to return to the project in January. Now, the company expects to continue construction in the second half of the year. The layoffs are a major blow to the local economy, especially after Sacramento County approved incentives to lure OptiSolar last year.