Solar panel giant to axe a fifth of its workforce [Yahoo! Finance]
RECKITT BENCKISR GP S/ADR (RBGLY)
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Source: Yahoo! Finance
Meyer Burger said its chief executive is leaving the company as it announced plans to reduce its global workforce from about 1,050 to 850 by the end of 2025, predominantly in Europe, as it focuses operations on the US. It said Gunter Erfurt would be replaced by executive chairman Franz Richter immediately, with chief financial officer Markus Nikles stepping down in September. Meyer Burger reported a loss of 292m Swiss francs for 2023, which it blamed on “severe price undercutting in the European solar market”. It comes amid a flood of Chinese products onto the European market. Zürcher Kantonalbank analyst Bernd Laux said: “This drastic measure is sensible, but it comes too late. “It remains to be seen whether it can prevent Meyer Burger's slow demise.” Read the latest updates below. 05:06 PM BST Signing off... Thanks for joining us today. 04:53 PM BST FTSE closes down The FTSE 100 closed down 0.7pc this afternoon. The top riser was Durex maker Reckitt Bencki
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