Blink Charging Cuts 20% of Workforce Amid Profit Push
Bethesda, Maryland, USA: EV charging provider Blink Charging announced plans to lay off around 120 staff—about 20% of its workforce—in a bid to reach profitability. This second round of cuts in less than a year comes after a steep revenue drop and a “BlinkForward” restructuring plan. CEO Michael Battaglia cites weak charger sales and intense competition in a cooling EV market. Though the stock rose 5% on news of cost reductions, employees face job insecurity, highlighting broader challenges for the once-burgeoning charging sector.
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Key Entities
- • Blink Charging: An EV charging station manufacturer and network operator struggling to turn a profit.
- • Michael Battaglia: Blink’s CEO rolling out the “BlinkForward” cost-cutting strategy.
- • EV Charging Industry: Experiencing a shakeout phase as competition intensifies and demand growth fluctuates.
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