FuelCell Energy gains on cost cutting measures, layoffs

ReutersJun 6, 2025 12:12 PM

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Shares of renewable power company FuelCell Energy FCEL.O rise 7.7% to $5.60 premarket

Company plans to reduce operating expenses by 30% on an annualized basis compared to last fiscal year

Company says it has reduced around 22% of its workforce as a part of its restructuring plan and now has around 426 global employees

As of last close, FCEL down 42.5% YTD

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