A French electronics firm in Rancho Bernardo plans to cut around 100 jobs at their solar energy plant as a part of their “first batch” of its core refocusing efforts, the company announced Monday.
The announcement came after it released its third-quarter financial results, where the firm said it planned to refocus on their core electronics business. That refocusing will require “significant restructuring measures.” The Paris-based firm said most of its cost-cutting is yet to come.
Soitec makes semiconductor materials for the energy and electronics industries. The plant produces concentrated photo voltaic modules for the U.S. renewable energy market.
The firm opened its 176,000-square-foot plant in December 2011, when Gov. Jerry Brown and then-Mayor Jerry Saunders attended the dedication of the manufacturing facility.
Officials said at the dedication that the facility represents a 150 million dollar investment which will create 450 jobs at the plant in Rancho Bernardo and 1000 indirect jobs around the world.
SDG&E purchased power from the company to be distributed locally and to other Southwestern states through the Sunrise Powerlink at the time of its opening.