Solar company Complete Solaria cuts workforce by 74.5%, reduces operating expenses by 53%, and aims to cut cash needs to $5M by mid-2024.
Complete Solaria Inc., a solar company, has cut its workforce by 74.5% from 428 to 109 employees, reducing operating expenses by 53%. This has led to improved business processes, better product quality, and a significant increase in Net Promoter Score. The company aims to cut its cash needs to less than $5 million by mid-2024 and is considering a debt-equity swap proposal to improve profitability. Complete Solaria offers a one-stop service for clean energy needs, including financing, project fulfillment, and customer service.
April 11, 2024
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