Clean Diesel Technologies Inc. in Bridgeport cut 14 jobs on the heels of a second-quarter loss and amid efforts to reboot demand for its patented emissions-control products.
The maker of systems for reducing the soot and nitrogen emissions from diesel-power vehicles, ships and machinery lost $1.1 million, or 13 cents a share, on sales of $342,000 in the three months ended June 30. A year earlier, it lost $2.1 million, or 26 cents a share, on $2.5 million in sales.
CEO Michael Asmussen said the job cuts and other cost-savings measures from earlier this year, such as executive pay cuts and its headquarters relocation from Stamford, will enable the company to hold down expenses until its revised business model can take hold.
Focused previously on licensing its proprietary technology to others, Clean Diesel said it will make a run at developing its own line of clean-emissions products for the diesel retrofit market.
The company said it has 14 remaining employees and four consultants.
