Home Energy Danbury’s FuelCell Energy cutting 96 jobs

Danbury’s FuelCell Energy cutting 96 jobs

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FuelCell Energy is laying off 96 workers, equal to 17 percent of its workforce, as part of what it described as a business restructuring aimed at reducing costs and aligning production levels with current levels of demand.
screen-shot-2016-12-01-at-2-08-41-pmThe company, whose headquarters are in Danbury, said the job cuts would take place in Danbury, at its North American production facility in Torrington, and at other remote locations.
A personnel-related restructuring charge of approximately $3 million will be incurred in fiscal 2017, it noted, with approximately one half of the charge composed of cash severance costs and the remainder representing non-cash charges.
“Our employees are our most valued assets so the decision to reduce our workforce was not made lightly,”  FuelCell President and CEO Chip Bottone said.

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