BP Solar Cuts 140 Maryland Jobs

Solar technology firm BP Solar will slash manufacturing operations globally, resulting in the loss of 140 jobs at its assembly plant in Frederick, Maryland and 480 jobs at two factories in Madrid.

BP Solar manufactures solar panels. The job cuts will help the company reduce product costs by up to 25%.

Officials said the firm will halt assembly of solar modules at the plants in Frederick and Madrid, outsourcing the operations.

BP officials said they expect demand to eventually grow for their products in light of the Obama administration’s focus on green energy, and its move to expand incentives for taxpayers to install energy-efficient products in their homes.