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Neo Solar Power, Gintech Energy and Solartech To Cut And Reduce Employees

The largest solar energy company in Taiwan United Renewable Energy Co. (UREC) will cut its workforce by 10 percent-20 percent by the end of 2019 due to high losses of solar energy cells.

Taiwan United Renewable Energy Co. is composed of the merger companies of Neo Solar Power Corp., Gintech Energy Corp. and Solartech Energy Corp. The merge is requested by Taiwan government to develop more rebewable energy for the country.

The merge of the three companies boosts production capacity but still unable to increase revenue and big losses happened as a result they will reduce employees to cope with the losses.

Taiwan United Renewable Energy Co. had a workforce of about 2,840 and to be decrease by 10 to 20%. It is to lease out its plants in Linkou, New Taipei and in the Hsinchu Science Park but continue to run its plants in Chunan Township, Miaoli and in the Southern Taiwan Science Park for solar cell module and solar energy production.

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