FuelCell Energy in Danbury Lays Off 135 Workers

DANBURY, CT — FuelCell Energy, headquartered in Danbury, laid off 135 employees on Friday.

The job cuts will save the alternative fuel manufacturer $11.5 million annually, the News-Times is reporting.

Last June, the state awarded FuelCell Energy and an offshore wind farm developer contracts to supply more than 250 megawatts of electricity to Connecticut consumers.

In December, the company was at risk of being delisted from Nasdaq as it stock traded below $1 for thirty consecutive days.

FuelCell reported a $33 million loss in the first quarter of its fiscal year, from November through January. Its revenue was down by more than half to $17.8 million.

On Monday morning, the company's stock opened at 0.2715.