Sensata Technologies Says Co Made Decision To Exit Spear Power System's Marine Energy Storage Business; Says Exiting Business To Result In Elimination Of About 60 Positions, Primarily In Kansas City, Missouri; Says
Portfolio Pulse from Benzinga Newsdesk
Sensata Technologies has decided to exit Spear Power System's Marine Energy Storage Business, resulting in the elimination of about 60 positions, primarily in Kansas City, Missouri, according to an SEC filing.
June 06, 2023 | 8:38 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Sensata Technologies (ST) is exiting the Marine Energy Storage Business, leading to the elimination of around 60 positions in Kansas City, Missouri.
Sensata Technologies' decision to exit the Marine Energy Storage Business will result in job cuts, which may negatively impact the company's image and potentially affect its stock price in the short term. The elimination of 60 positions indicates a significant change in the company's operations, which could lead to uncertainty among investors.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100