ChargePoint Layoffs
September 2023
ChargePoint announced a layoff affecting 0 employees (10% of its workforce) in September 2023. The company operates in the Manufacturing sector.
0
10%
Sep 8, 2023
About
ChargePoint, a leading electric vehicle charging network company, announced in September 2023 that it is restructuring and will lay off 10% of its global workforce. This decision, part of a broader reorganization, aims to achieve annual operating expense savings of approximately $30 million. The layoffs were disclosed alongside the company's second-quarter earnings report, which revealed adjusted EPS and revenue figures that fell short of Wall Street estimates. The disappointing financial performance and a revenue outlook below analyst expectations for the full year contributed to the cost-cutting measures. The company expects to incur about $8 million in charges related to the reorganization, primarily in the third quarter of 2023.
Related Events
More Manufacturing Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl