Clipper Windpower cutting 174 jobs across the company - KWWL

Clipper Windpower, a designer and manufacturer of wind turbines, is cutting 174 jobs across the company.

Clipper says it is reducing its workforce from 550 employees to 376. The company did not specify how many jobs will specifically be impacted at its Cedar Rapids location, but said it will not be closing any physical locations.

Below is a statement by Clipper Windpower:

"In response to continued challenges facing our industry and our company, Clipper management has been working on developing a sustainable business model with an emphasis on its service business. This effort requires a downsizing and refocusing of our operations, reducing the company's total workforce from 550 employees to 376. We are not closing any physical locations and are continuing to operate our production and assembly facilities in Cedar Rapids. The company is providing affected employees separation packages, including severance, health care benefits and outplacement services to ease the transition."