China's leading solar manufacturers reduced their combined workforce by 21% in 2025, eliminating 40,589 jobs as persistent industrial overcapacity kept producers mired in operating losses, according to corporate filings reviewed by Reuters and reported by The China-Global South Project. The five largest manufacturers—Longi Green Energy, Trina Solar, Jinko Solar, JA Solar, and Tongwei—employed 154,061 people at the end of 2025.
The reduction followed a 31% contraction in total staff across the same five firms in 2024. Across 2024 and 2025 combined, the five companies reduced their total workforces by approximately half. None of the five companies publicly announced formal layoff programs over that timeframe, and none responded to requests for comment.
Price competition has driven corporate margins further into negative territory. Energy technology consultancy Thunder Said Energy reported that the average solar module selling price among the five manufacturers dropped to US$130 per kilowatt in 2025, down from US$350 per kilowatt in 2019. Consequently, their average earnings before interest and taxes (EBIT) margin deteriorated to -13% in 2025 from -8% in 2024.
Domestic market conditions have also dampened installation demand following pricing reforms in China that replaced guaranteed returns for renewable energy projects with market-based auctions. Investment bank Jefferies estimated that China will install between 150 and 200 gigawatts of solar capacity, down from 315 gigawatts in 2025. Globally, Chinese exports of solar cells and panels fell 10% year on year by volume from January through August.
Sources
- The China-Global South Project · 2026-10-14
