Colo. solar panel maker slashes workforce by half

THORNTON — Thornton-based Ascent Solar Technologies Inc. has cut its workforce by roughly half.

The maker of flexible solar panels said Thursday in a filing with the Securities and Exchange Commission that it has 77 full-time employees and eight contractors. That’s down from 117 full-time employees and about 50 contractors in December.

The Denver Post reports the company is repositioning itself to focus on high-value niche markets, such as solar panels for the military, vehicles and consumer goods.

CEO Ron Eller told analysts in a conference call that the cuts in jobs and other expenses will reduce the company’s spending to $4 million in the second quarter from $7.5 million in the first quarter.