Advanced Emissions Solutions (ADES) Announces 33% Workforce Reduction

Advanced Emissions Solutions, Inc. (Nasdaq: ADES) announced that it has executed the next step of its previously announced cost containment strategy. Specifically, the Company has executed a workforce reduction plan affecting approximately 38% of the Company’s employees, many of which were servicing long-term equipment contracts that were recently completed.

Heath Sampson, President and CEO stated “As previously communicated, we continue to evaluate the changing needs of our business. The decisions made around this restructuring have been difficult, but were consistent with our plan and necessary to position the Company to succeed in a changing marketplace, meet the current and future needs of our customers and provide a platform for future growth. As a result of these actions, we expect to generate annualized expense savings of approximately $2.1 million - $2.4 million, primarily from savings in employee salaries and benefits."

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