AIST demos high-power, low-temperature SOFC

• Book ID: 104437262
• Publisher: Elsevier Science
• Year: 2009
• Tongue: English
• Weight: 77 KB
• Volume: 2009
• Category: Article
• ISSN: 1464-2859
• DOI: 10.1016/s1464-2859(09)70332-3

✦ Synopsis

85 positions at its Burnaby, BC and Lowell, Massachusetts locations. The cuts represent approximately 20% of its workforce.

This restructuring is intended to narrow Ballard's research and product development programs to focus on commercial priorities, and also reduce the company's administrative support and overhead positions.

The company's president/CEO, John Sheridan, says that 'while this was a difficult decision given the people implications, this move to a leaner, lower-cost organizational structure is a key step in Ballard's drive to profitability.'

A third-quarter charge of approximately US$4 million will be recorded for related severance and restructuring costs, which is expected to be offset by savings in 2009. On a full-year basis, these organizational changes are expected to result in annual cost savings of approximately $10 million.

Earlier this year Ballard eliminated 39 positions in a cost-cutting move, which was attributed to shifting to a two-segment market focus on stationary power and motive power products [FCB, June 2009].