Santa Clara-Based DayStar to 30% of Staff; CEO Resigns

Santa Clara, Calif. -- DayStar Technologies, a Santa Clara-based developer of solar photovoltaic products, has announced plans to cut 30% of its workforce -- about 32 employees -- as part of a large plan to reduce expenses. The company also said that CEO Stephan DeLuca has resigned "at the request of the board of directors," with Chairman Robert Aldrich taking on his role. Aldrich joined the company as a director in 2003, and was elevated to chairman in September. DayStar said that it plans to complete its job cuts during the current quarter. "We continue to face a challenging operating environment that requires us to make difficult decisions," said Aldrich. "We believe the workforce reduction announced today, coupled with our ongoing focus on expense control, will help us accomplish our objectives and conserve cash."
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