Blink Charging to Restructure, Cut Global Workforce By 20%

Blink Charging says it is restructuring and will cut its global workforce by about 20%.

• Action is designed to streamline operations, enhance agility, and align resources with its strategic priorities, the company says in a statement
• The adjustments are anticipated to result in annualized savings of more than $11 million
• Company estimates it will incur between $1 million and $1.5 million of related costs, consisting of cash severance, other severance benefits, and other related restructuring costs
• Workforce reduction to be completed by end of 3Q

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