In Q4 of 2008, Suntech expects total net revenues to be in the range of US$405-420 million, above previously issued guidance of revenues in the range of US$345-360m.
Full year 2008 total net revenues are expected to be in the range of US$1.91-1.93 billion and full year 2008 PV product shipments are expected to be in the range of 493-496 MW.
The Company has also announced that it had reduced the workforce by approximately 800 employees as a result of ongoing performance evaluation in the fourth quarter of 2008.
In addition, Suntech suspended the hiring of a further 2,000 new staff in line with Suntech’s decision to maintain production capacity at 1 GW as a result of the difficult economic environment. Suntech will consider further expansion and hiring when market conditions improve. Suntech's headcount as of December 31, 2008 was 9,070.