Blink Charging announces major layoff wave
As Blink Charging announced in its own press release, the job cuts will begin immediately and are expected to be completed in the first quarter of 2025. Apart from the statement that 14 per cent of the workforce is to be made redundant, Blink Charging does not provide any details. The absolute number of employees affected also remains uncertain.
The company wants the move to be seen as a cost-cutting measure that will lead to ‘annual savings of around 9 million US dollars’. Blink Charging is endeavouring to avoid giving the impression of acute pressure to act and therefore speaks of a ‘proactive step to adapt to current market conditions while maintaining our long-term strategy’. President and CEO Brendan Jones literally states that ‘these operational changes will make Blink Charging a more efficient and effective organisation that is better aligned with our strategic priorities’.
The charging network operator is also endeavouring to be optimistic: the current economic and market-related challenges in the electric car industry are considered to be “only temporary,” it says. However, rumours of dwindling liquidity at Blink Charging had already emerged last year. In September 2023, Automotive News reported that the company only had financial reserves for less than a year. The report also confirmed that Blink Charging not only had financial worries, but also problems with the reliability of the technology – and therefore dissatisfied customers.
1 Comment