FuelCell Energy gains on cost cutting measures, layoffs

FuelCell Energy

06/06/2025 13:12

** 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

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))