First Solar falls after internal audit finds forced labor in Malaysia

First Solar disclosed in its sustainability report for 2023 that its audits found four onsite service providers in Malaysia employed foreign migrant workers who were subjected to unethical recruitment including the payment of recruitment fees in their home countries, passport retention and the unlawful retention of wages. As a result of the findings, the service providers have since returned all passports and unlawfully retained wages to the workers, the company said. It updated its site service agreements to prevent any recurrence of the issue. “Furthermore, after developing a reimbursement plan with a third party, we are now working with our onsite service providers to ensure the recruitment fees are reimbursed to their current and former employees,” First Solar noted. Shares of First Solar are down 5% to $200.83 in afternoon trading.