Clipper announced to its employees that it will reduce its workforce by about 90 positions on a global basis.
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Clipper employs about 840 globally and about 309 at its Cedar Rapids, Iowa manufacturing and assembly plant.? This reduction in workforce is directly related to America's current economic situation which is impacting Clipper, its customers, and many other companies in America and around the world.? Specifically, a number of Clipper's customers have deferred delivery of wind turbines from 2009 to future years due to their inability to access tax equity and project debt financing.? At present, the impact to Clipper is a reduction in 2009 turbine production. Clipper is rescaling its business at this time to weather the current market conditions and align with its current production demand.
