Bolder Technology Reduces One-Half of Its Work Force

January 14, 2001 by Jeff Shepard

Bolder Technology Corp. (Golden, CO) reported that it will lay off half of its work force and will outsource some manufacturing to GP Batteries International Ltd. (China). The company announced that it would cut 89 full-time and 126 part-time employees and record changes in the first quarter. These cost-reduction initiatives were prompted by the company's review of its sales through December 31, 2000; its sales forecasts for 2001; and the current retail climate generally.

Chairman, President and CEO Roger F. Warren stated, “Given the current environment, these steps are necessary to bring the company's overhead and operating expenses in line with projected revenue and conserve resources while the company considers its strategic opportunities for the future."