Entech Solar, a provider of solar energy systems, says it has undertaken significant cost reduction activities to position itself for improved performance in the quarters to come.
In conjunction with Entech Solar's shift in strategic direction, management has focused on reducing costs and streamlining the company's overall operations. To date, the company has relocated its corporate headquarters from Ewing, N.J., to Fort Worth, Texas, and eliminated 33 employees, representing a 40% staff reduction and similar decrease in annualized payroll expense.
In addition, Entech plans to close its California locations by mid-2009 and has also eliminated a number of consultants. Entech is targeting a 25% overall reduction in non-payroll costs by curtailing all nonessential spending and evaluating outsourcing opportunities.
SOURCE: Entech Solar