Brief: Superconductor Technologies Announces Plans A 70% Employee Workforce Reduction

Clearday

28/01/2020 22:44

Jan 28 (Reuters) - Superconductor Technologies Inc  SCON.O :
    * SUPERCONDUCTOR TECHNOLOGIES ANNOUNCES COST REDUCTION PLAN
    * SUPERCONDUCTOR TECHNOLOGIES INC - PLAN ALSO INCLUDES A 70%
EMPLOYEE WORKFORCE REDUCTION.
    * SUPERCONDUCTOR TECHNOLOGIES - NOT CURRENTLY AWARE OF ANY
OTHER
SIGNIFICANT CHARGES STI WILL INCUR AS A RESULT OF COST REDUCTION
PLAN
    * SUPERCONDUCTOR TECHNOLOGIES - DUE TO COST REDUCTION PLAN,
ANTICIPATES IT WILL NOT INCUR SIGNIFICANT CHARGES FOR SEVERANCE,
TERMINATION RELATED COSTS
    * SUPERCONDUCTOR TECHNOLOGIES - WILL MAINTAIN OPERATIONS OF
SAPPHIRE CRYOCOOLER CRYOGENICS INITIATIVES
    * SUPERCONDUCTOR TECHNOLOGIES - CEASING ADDITIONAL
MANUFACTURING
OF ITS HTS CONDUCTUS WIRE

Source text for Eikon:  ID:nGNXbfgx6j 
Further company coverage:  SCON.O 

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