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Restructuring and Impairment
12 Months Ended
Oct. 31, 2019
Restructuring Costs [Abstract]  
Restructuring and Impairment

Note 4.  Restructuring and Impairment

 

Fiscal Year 2019

 

On April 12, 2019, the Company undertook a reorganization, which included a reduction in force of 135 employees, which represented 30% of the Company’s global workforce. The workforce was reduced at the North American production facility in Torrington, Connecticut, as well as at corporate offices in Danbury, Connecticut and at remote locations.  There was no restructuring expense recorded because no severance was provided in connection with the reduction in force.

In connection with the reorganization, the Company also reviewed certain construction in process projects and identified a construction in process asset related to automation equipment for use in manufacturing which has been determined to be impaired due to uncertainty as to whether the asset will be completed as a result of the Company’s liquidity position and continued low level of production rates.  The Company recorded a charge of $2.8 million which is included in Cost of product sales on the Consolidated Statements of Operations for the year ended October 31, 2019.

Fiscal Year 2018

There were no restructuring activities during the fiscal year ended October 31, 2018.

Fiscal Year 2017

On November 30, 2016, a business restructuring was announced to reduce costs and align production levels with then current levels of demand in a manner that was consistent with the Company’s long-term strategic plan.

The workforce was reduced at both the North American production facility in Torrington, Connecticut, as well as at the corporate offices in Danbury, Connecticut and remote locations. A total of 96 positions, or approximately 17% of the Company’s global workforce, were eliminated.  The production rate was reduced to 25 MW annually, from the prior rate of 50 MW annually, in order to position for delays in anticipated order flow.  Restructuring expense relating to eliminated positions of $1.4 million was recorded and paid for in the year ended October 31, 2017, which has been presented under a separate caption in the Consolidated Statements of Operations.