7 FORT COLLINS, Colo.—Fort Collins-based Advanced Energy Industries Inc. says it will lay off 330 employees worldwide and take other steps to save up to $8.2 million.
The company announced the steps Thursday. Advanced Energy Industries manufactures power supply equipment and related products for renewable energy and information technology companies.
The company said in a written release the cost-saving steps include an additional 5 percent pay cut for managers and executive officers, who previously took a 10 percent cut. It says the layoffs amount to 22 percent of its work force.
The Fort Collins Coloradoan reported the company also plans to suspend operations worldwide for 13 weeks this year. A company spokesman didn’t immediately return an e-mail from to The Associated Press Friday.
