Hoku Lays Off 100 In Pocatello
About 100 employees of Hoku Materials in Pocatello have been laid off, the company announced Tuesday.
Hoku Corporation cited financial difficulties at the polysilicon plant, which was not yet in commercial operation.
Due to the delinquency of unpaid construction obligations, liens have been filed against the plant, and some lienholders have begun foreclosure proceedings in the Idaho courts.
In the past few months, the plant’s financial woes have frequently been in the public eye due to negotiations with Idaho Power and the Idaho Public Utilities Commission as Hoku struggled to pay the electricity bill.
?This reduction in force is necessary to conserve cash while the company pursues restructuring alternatives,? the company said in a news release.
