February 22, 2018 / 5:10 PM / 3 months ago

BRIEF-Sunpower Adopts Initiatives To Reduce Operating Expenses

Feb 22 (Reuters) - Sunpower Corp:

* SUNPOWER-ON FEB 21,ADOPTED,BEGAN IMPLEMENTING INITIATIVES TO REDUCE OPERATING EXPENSES, COST OF GOODS SOLD OVERHEAD & FOCUS ON IMPROVING PROFITABILITY‍​

* SUNPOWER - IN RELATION TO PLAN, EXPECTS BETWEEN 150 AND 250 NON-MANUFACTURING EMPLOYEES TO BE AFFECTED, REPRESENTING ABOUT 3% OF CO’S GLOBAL WORKFORCE

* SUNPOWER SAYS IN RELATION TO PLAN, SEES RESTRUCTURING CHARGES OF ABOUT $20-$30 MILLION, MOST OF WHICH EXPECTED TO BE INCURRED IN Q1, Q2 OF 2018 - SEC FILING

* SUNPOWER SAYS ‍COST CUTTING INITIATIVES TAKEN IN LIGHT OF KNOWN SHORTER-TERM IMPACT OF TARIFFS IMPOSED ON PHOTOVOLTAIC CELLS & MODULES

* SUNPOWER SAYS EXPECTS BETWEEN $17 MILLION AND $25 MILLION OF RESTRUCTURING CHARGES RELATED TO PLAN TO BE CASH Source text: (bit.ly/2EKwz2n) Further company coverage:

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