Ballard Power Systems (TSE:BLDP) has released an update.
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Ballard Power Systems is undertaking a global restructuring initiative to cut operating expenses by over 30% due to slower-than-expected market adoption of hydrogen fuel cells and a challenging macroeconomic environment. Despite these cost-cutting measures, which include workforce reductions and operational consolidations, the company aims to maintain its long-term competitiveness and balance sheet strength. Ballard remains committed to the hydrogen fuel cell market’s potential, emphasizing disciplined spending and sustained investment in innovation for the future.
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