December 1, 2016 / 12:50 PM / 8 months ago

BRIEF-Fuelcell Energy reports reduction of workforce

1 Min Read

Dec 1 (Reuters) - Fuelcell Energy Inc

* Fuelcell Energy provides business update

* Sees FY 2016 revenue $107 million to $109 million

* Total of 96 positions, or approximately 17 percent of global workforce, was impacted

* Workforce reduced at both North American production facility in Torrington, Connecticut, corporate offices in Danbury,remote locations

* Company is implementing other measures to reduce operating costs by at least $6 million on an annualized basis

* Personnel-related restructuring charge of about $3 million will be incurred in fiscal 2017

* Production rate reduced to 25 mw annually, from 50 mw annually, in order to position for delays in anticipated order flow

* Contracted backlog as of October 31, 2016 totaled in excess of $400 million

* Production rate has been reduced to 25 megawatts annually; production level is anticipated to be temporary Source text for Eikon: Further company coverage:

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