China’s Longi says will lay off around 5% of staff, not around 30% as some media said | Forexlive

China’s Longi Green Technology Energy is the world’s largest solar manufacturer

Overnight there were media reports the firm would cut nearly one-third of its staff as a cost-saving measure.

The firm has issued a statement confirming layoffs but putting the number much lower, at around 5% of staff.

This is better news for staff at the firm (well, for most of them) and for China-trade investors.