Clean energy solutions provider Xebec Adsorption Inc. said it is temporarily reducing its global workforce by around 22% to reduce costs.
The Montreal, Quebec-based company said that the temporary layoff of 31 employees in its Canadian operation and the closure of the UK sales office with the elimination of four sales positions will reduce expenses and preserve liquidity.
Further, the company said that in addition to its ongoing efforts to raise additional capital, the Board has asked one of the current board members, Peter Praxmarer, to take on an interim role in helping with the strategic realignment of Xebec.
