Danbury, Connecticut-based FuelCell Energy, maker of fuel cell energy conversion devices, has laid of 135 workers in its Danbury, Connecticut headquarters and main manufacturing facility in Torrington, Connecticut. A company spokesperson noted, “We don’t undertake these actions lightly, and we remain focused on executing in the near-term on the (80-plus) megawatts in backlog of projects we have already won. These actions should not impact our commercial ability to deliver on these projects.”
The financially-embattled company is struggling to rework their current debt load and seeking immediate investment opportunities. Any additional reduction in force might jeopardize loans based on job credits from the State of Connecticut. According to financial reports, the company has gone 22 years without generating a profit and the losses continue to mount. The company continues to face competition from other companies and energy conversion technologies, notably those based on solar and wind-driven turbines.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?