Form 10-Q FUELCELL ENERGY INC For: Apr 30
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FuelCell Energy (FCEL) to Cut 22% Staff
June 6, 2025 8:21 AM EDTFuelCell Energy (NASDAQ: FCEL):
On June 4, 2025, the Board approved a global restructuring plan to further reduce operating costs, realign resources toward advancing the Companys core carbonate technologies, and protect the Companys competitive position amid slower-than-expected market investments in clean energy. This plan includes: (i) a workforce reduction of 122 employees, or approximately 22% of our workforce across the U.S., Canada and Germany (which reduction was implemented on June 5, 2025), (ii) a significant reduction of discretionary overhead spending, (iii) recalibration of the Torrington manufacturing facility production schedule to... More
