WindTamer Corp. has undertaken temporary cost-reduction measures designed to reduce expenses during a period of approximately six to 12 weeks. The company says it has been finalizing discussions involving several significant orders that are expected to close in the first quarter of 2011.
WindTamer has furloughed several production employees and expect that they will be recalled early in the first quarter of 2011. In addition, some production employees and all of the company's executive officers have elected to accept restricted WindTamer common stock in lieu of some or all of their cash compensation over the 12 weeks.
SOURCE: WindTamer Corp.