Hydrogenics Lays Off 50 Workers

The layoffs will cost Hydrogenics $3 million, or 3 cents per share, in related fourth-quarter charges.

Twenty OnSite Generation workers from the company's Mississauga, Ontario, facility will be laid off, as well as 15 from the fuel cell business and 15 from its test equipment business, which has been shut down. Most of the affected positions are administrative and operational.

"Earlier in the year we communicated a target to reduce the rate of cash consumption in the company by 30-50 percent," Chief Executive Daryl Wilson said in a statement. "This is the final action we anticipate being necessary to achieve this target."