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A major business restructuring wasn't enough to get struggling GT Advanced (GTAT -0.9%) to close...

  • Thursday, January 10, 4:42 PM ET
    A major business restructuring wasn't enough to get struggling GT Advanced (GTAT -0.9%) to close higher today. The solar/LED equipment maker will now be run on functional lines (sales, R&D) rather than on the basis of business units. GT is also eliminating the position of chief strategy and new business officer, and is idling a St. Louis pilot manufacturing facility - the latter move is expected to save $15M/year. The company announced huge layoffs and a management shakeup in October.
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This news story has 4 comments:

  •  
    love this company, going long and confident
    10 Jan, 04:46 PM Reply Like
  •  
    Why? What is there to love?
    10 Jan, 04:51 PM Reply Like
  •  
    I don't love it but I'm long gtat.
    10 Jan, 05:02 PM Reply Like
  •  
    I think GTAT is a great LONG-TERM story, they have great technology that will drive the solar / LED industry. They just need demand, which there is not any of currently. If they can keep their balance sheet strong through this down-turn without staving in innovation, there will be a pay-off.
    11 Jan, 08:24 AM Reply Like
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