Nov 3 Solar panel maker Solyndra Inc, which
withdrew its initial public offering plans in June, will
announce on Wednesday that it will shut down an older plant and
cut jobs, the New York Times said.
The cost-cutting move by Solyndra, which faces intense price
competition from Chinese manufacturers, will reduce its
previously announced production capacity, the paper said.
The company recently also postponed its plans to expand Fab
2, a $733 million factory in Fremont, California, to make its
high-tech solar panels, the paper said.
The company could not immediately be reached for comment by
(Reporting by Anand Basu in Bangalore; Editing by Hans Peters)