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headcount-reduction-expected-at-itm-power-following-financial-losses
© ITM Power
headcount-reduction-expected-at-itm-power-following-financial-losses
© ITM Power

‘Headcount reduction’ expected at ITM Power following financial losses

ITM Power has today (January 31) said it is set to make “headcount reduction” following an “unacceptable” financial performance.

In its interim results, the UK-based electrolyser manufacturer is shown to have stood £2m ($2.4m) down in the six months leading up to October 21, 2022, compared to £4.1m ($5m) in the same period in 2021.

Additionally, its losses before tax saw a heavy decline to £56.5m ($69.4m), down from £15.3m ($18.8m) in the previous segment.

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