Bowie, Maryland-based Blink Charging Company, an electric vehicle charging network operator, has announced a significant workforce reduction as part of its efforts to "enhance operational efficiencies, and position the Company for sustained long-term growth and profitability in the evolving global market."
The reduction in force will impact approximately 118 employees.
According to the company's SEC filing...
"The core of this plan includes a difficult but necessary reduction of the Company’s global workforce by approximately 20%. This action is designed to streamline operations, enhance agility, and align resources with the Company’s BlinkForward strategic priorities."
These adjustments are anticipated to result in annualized savings of more than $11 million. The 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. The workforce reduction is expected to be completed by the end of 3Q25.
President and CEO Mike Battaglia noted, "Today’s decisions, while challenging, are crucial for propelling our BlinkForward strategy and ensuring the long-term success of Blink. We are deeply grateful for the contributions of our departing colleagues and are committed to supporting them through this transition. This restructuring is a proactive step to build a more efficient and robust organization, better aligned with our strategic goals and poised to lead in the next phase of our growth. We are confident that this strategic realignment, under the banner of the BlinkForward initiative, will strengthen our competitive positioning, improve financial performance, and create a solid foundation for future innovation and market leadership."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?