Pasadena, CA -- (SBWIRE) -- 05/30/2012 -- A company based in Greenville is laying off 300 people, dramatically cutting back on its workforce. They own Uni-Solar and are a solar roofing business. The parent company, Energy Conversion Devices, was even going to auction off the business but no bids that they found acceptable were placed.

Things haven't been going well for the company in the past few months. The parent company filed for bankruptcy in February and many of its workers were put on furlough. Though an exact cause for the company's failure hasn't been found, the executives believe it has to do with the cessation of federal incentives and the production of too many solar panels.

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