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FuelCell Energy, Inc. (Nasdaq: FCEL) announced a business restructuring to reduce costs and align production levels with current levels of demand in a manner that is consistent with the Companys long-term strategic plan.
The Company is reducing materials spend as well as implementing various cost control initiatives. The workforce was reduced at both the North American production facility in Torrington, Connecticut, as well as at corporate offices in Danbury and remote locations. A total of 96 positions, or approximately 17 percent of the global workforce, was impacted. In conjunction with the personnel reduction, the Company is implementing…
Read the full article at: http://www.streetinsider.com/Corporate News/FuelCell Energy (FCEL) to Conduct Corp. Restructuring; Prelim. Q4, FY16 Revenue Light of Views/12299877.html