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Tuff-Stuff

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Tuff-Stuff

Re: None

Monday, 03/02/2015 6:02:26 PM

Monday, March 02, 2015 6:02:26 PM

Post# of 53906
RGSE $0.43 RGS Energy cutting 30% of workforce

A week after pricing a complex stock warrant/offering, and two weeks after issuing a Q4 warning, RGS Energy (NASDAQ:RGSE) states it's cutting 100 jobs (30% of its workforce) over the next few months. $140K-$240K worth of restructuring charges are expected, as well as a $70K non-cash impairment charge.
Much of the restructuring will center around RGS' California ops, where the company will "replace its offices, warehouses, field sales and construction teams in California with greater utilization of call center e-Sales and the company's Authorized Integrator Program for solar installations." Most of the actions are expected to be finished in Q1.

Pray for A Pain Free Day!

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