Reuters logo
AMSC cuts 25 pct of workforce
November 28, 2012 / 1:40 PM / in 5 years

AMSC cuts 25 pct of workforce

Nov 28 (Reuters) - Power technology company AMSC said it cut its workforce by about 25 percent due to “challenging conditions” in the wind power market.

“Financing and cash flow among wind farm developers and wind turbine manufacturers have been constrained, which has impacted growth plans for some of our partners,” Chief Executive Daniel McGahn said in a statement.

AMSC has been struggling to return to a profit after losing a major customer in 2011.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below