Biodiesel maker Imperium Renewables slims down workforce
Imperium Renewables has cut its workforce, only weeks after pulling plans for its public offering and replacing its CEO, the Seattle Post-Intelligencer reports.
The Seattle-based biodiesel producer told the newspaper that the workforce reductions were done to "address short-term challenges and ensure the company's long-term growth."
It said that the changes will not affect the operation of its Grays Harbor, Wash., biodiesel plant which will produce 100 million gallons of biodiesel a year.
The news follows the company's announcement that it has delayed its planned initial public offering citing market conditions and the departure of former CEO Martin Tobias … Read more