Restructuring charges seen at 28 mln usd (Il Sole 24 Ore Radiocor) - New York, 24 Apr - US solar group SunPower said it plans to reduce its workforce and write off certain assets as part of a restructuring plan intended to reduce operating costs and improve the economics of the business.

"The Company expects to incur restructuring charges totalling approximately 28 million dollars, consisting of approximately 14 million in severance benefits, and approximately 14 million related to early contract termination and certain right-of-use and leasehold improvement assets write-offs," it said in a filing.

It said it expected the restructuring plan to be substantially completed by the end of the company's second fiscal quarter.

At 1410 GMT SunPower shares were up 3.8%.

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(RADIOCOR) 24-04-24 16:13:40 (0596) 5 NNNN