Plug Power Stock Jumps on Plans to Save $75 Million Annually

Plug Power (NASDAQ:PLUG) stock opened in the green today after the company announced a plan that would reduce its annual operational expenses by $75 million. Plug expects to incur a one-time $15 million implementation cost to initiate the plan. The plan includes four pillars: operational consolidation, strategic workforce adjustments, additional cost-saving measures and a commitment to shareholders.“The implementation of this strategic plan is essential for Plug to sustain its market leadership and continue ...