SunPower To Cut Jobs After its Stock Gets Hammered

Just a day after announcing it would restate the past two years of financial results, beleaguered SunPower Corp. (NASDAQ:SPWR) on Wednesday said it would reduce its workforce, cut a selection of residential installation locations, and halt direct sales, Reuters reports.  With shares down nearly 60% year-to-date, SunPower says it is seeking to simplify its business structure and move away from areas that are not sustainability profitable. In a letter to employees seen by Reuters, SunPower Principal Executive Officer, Tom Werner, said some 1,000…