FuelCell Energy lays off 22% of staff, to cut annual expenses by 30%-February 2024-www.financetom.com

FuelCell Energy lays off 22% of staff, to cut annual expenses by 30%

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FuelCell Energy lays off 22% of staff, to cut annual expenses by 30%

Jun 6, 2025 5:50 AM

June 6 (Reuters) - Renewable power company FuelCell

Energy ( FCEL ) said on Friday it had laid off 22% of its

workforce, as part of a global restructuring plan to reduce its

operating expenses by 30% annually.

Shares of the company rose 8.5% in premarket trading

following the announcement.

FuelCell said the new plan follows a global operational

restructuring in

November

, which included a workforce reduction of nearly 13%.

High interest rates and policy uncertainties around

capital-intensive clean energy projects have forced many

renewable energy firms to reevaluate their expansion plans.

The company said it has a total of about 426 employees

worldwide following the latest reduction in workforce.

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