BP Solar faces US$45 Million “Restructuring” Charge

October 30, 2003 [SolarAccess.com] The recent BP quarterly results hint at some possible layoffs and restructuring within their solar division, BP Solar. The “BP p.l.c. Group results Third Quarter 2003” includes the following item: “The Solar and Renewables result includes a restructuring charge of US$45 million as a result of decisions taken during the quarter to improve future profitability. This charge provides for consolidation of manufacturing operations and staff reductions across the business.” For the full quarterly results see the link below.
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