Blink Charging Reveals Cost Reduction Plan; To Reduce Global Personnel Count By 14%, Resulting In Annualized Savings Of $9M
Portfolio Pulse from Benzinga Newsdesk
Blink Charging has announced a cost reduction plan that includes reducing its global workforce by 14%, which is expected to result in annualized savings of $9 million.
September 17, 2024 | 8:32 pm
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Blink Charging is implementing a cost reduction strategy by cutting its global workforce by 14%, aiming to save $9 million annually. This move could improve the company's financial health and operational efficiency.
The reduction in workforce and associated cost savings are likely to positively impact Blink Charging's financials by reducing expenses. This could lead to improved profitability and operational efficiency, which is generally viewed favorably by investors.
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