Spruce Power cuts 19% of workforce, closes Denver office for $20M annual savings

SPRUCE POWER HOLDING CORP

Reduction in force of ~40 employees/contractors (19% of workforce); one-time severance charge ~$1M in Q3 2025.
Annualized cost savings of ~$20M from SG&A reduction; company targets positive free cash flow.
Cash position over $90M; savings to support scaling solar platform and Spruce PRO sales.
CEO Chris Hayes cites streamlining operations, increased automation, and sharper focus on core initiatives.

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