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- Actions Expected to Generate $20 Million in Annualized Savings, Enabling Long-Term Profitability and Positive Cash Flow
- Strategic Actions Position Spruce for Scalable, High-Margin Growth and Greater Shareholder Value
Spruce Power Holding Corporation (NYSE:SPRU) ("Spruce" or the "Company"), a leading owner and operator of distributed solar energy assets across the United States, today announced transformative steps expected to meaningfully improve operational efficiency, drive long-term profitability and optimize the Company's financial position. These initiatives will reduce SG&A expense generating approximately $20 million in annual savings. The Company believes the savings will accelerate Spruce's path to positive free cash flow and support key growth initiatives, enabling faster scaling of the Company's solar energy platform.
The actions include workforce adjustments, the closure of the Denver office and the consolidation of certain roles across the organization. These changes reflect Spruce's ongoing commitment to managing expenses and optimizing resources, while maintaining operational excellence across all levels of the business.
Posted In: SPRU
