Sacramento-based Pacific Ethanol Inc. has laid off 26 employees at an ethanol plant in Nebraska due to low prices and a glut of product in the market, reports the Sacramento Business Journal.
Shares of Pacific Ethanol have fallen 22% since in the past two days. The stock has fallen 76% over the past year.
Including other plants, Pacific Ethanol now has put nearly 20% of its total U.S. ethanol capacity offline.
