By Colin Kellaher
Blink Charging plans to shed about 20% of its workforce as part of a restructuring aimed at streamlining the electric-vehicle charging company's operations and aligning resources with its strategic priorities.
Blink on Monday said it expects to achieve annualized savings topping $11 million, adding that it will incur between $1 million and $1.5 million of related restructuring costs.
The Bowie, Md., company, which has nearly 600 employees according to data from FactSet, said it expects to complete the job cuts by the end of September.
Blink last September unveiled plans to cut 14% of its staff in a move aimed at generating $9 million in annual savings.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 19, 2025 08:30 ET (12:30 GMT)
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