SunPower, the No. 2 U.S. solar panel maker, said it would cut about 1,200 jobs, or about 15% of its workforce, as the company realigns its power plant business and manufacturing operations.
The company also posted on Tuesday a quarterly loss, compared with a year-earlier profit, hurt by declines in revenue from its power plant business.
SunPower reported a net loss attributable to shareholders of $70 million, or 51 cents per share, in the second quarter ended July 3, compared with a profit of $6.5 million, or four cents per share, a year earlier.
Excluding one-time items, the company lost 22 cents per share.
Subscribe to Data Sheet, Fortune’s daily newsletter about the business of technology.
The company, majority owned by French energy giant Total SA, said revenue rose 10.3% to $420.5 million.