"While
the
long-term
prospects
for
renewable
energy
remain
bright,
conditions
in
the
sector
today
are
challenging,"
says
AMSC
chief
executive
Daniel
McGahn.
“Given
this
environment,
we
made
the
difficult
but
prudent
decision
to
reduce
our
workforce
in
order
to
weather
the
industry
downturn
and
minimize
our
cash
usage."
AMSC
now
has
349
employees
globally,
down
from
more
than
800
a
year
and
one-half
ago.
It
says
the
move
will
cut
annualized
expenditures
by
$10m
to
less
than
$58m
once
the
savings
are
fully
realized
in
the
fiscal
quarter
ending
30
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