Day4 Energy Reduces Workforce

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Day4 Energy Inc., a solar electric technology developer and manufacturer of solar modules, says it has cut approximately 95 people from its workforce, primarily at its Burnaby, British Columbia, production facility.

‘We are seeing continued strength in demand for our product in Europe and remain confident in our contracted sales for 2009,’ says George Rubin, president of Day4 Energy. ‘However, given the broader economic environment and seasonal weather patterns, we are being proactive in managing our business to avoid inventory build-up.’

The company says it will provide affected employees with severance and human resource support to assist with outplacement. The firm will incur an associated restructuring charge of approximately $700,000.

SOURCE: Day4 Energy Inc.

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