Blink Charging to let go of 20 per cent of staff
In September 2024, Blink Charging announced the dismissal of 14 per cent of its employees. At the time, it was described as a “proactive step” to adapt to current market conditions.
The company is now justifying the “difficult but necessary reduction in the global workforce” with the ‘BlinkForward’ strategic restructuring plan. Its aim is to improve operational efficiency and position the company for “sustained long-term growth and profitability in the evolving global market.” It also states that the move is intended to rationalise operations, increase agility and align resources with BlinkForward’s strategic priorities.
However, no further details have been provided. As was the case in September 2024, Blink Charging is not specifying exactly how many employees are affected by the job cuts or where. In addition to North America, Blink is also active in Europe.
In the press release, the company only calculates that the measure is “expected” to save over eleven million US dollars per year – this is to be offset by estimated costs of between 1 and 1.5 million dollars for redundancy payments and other restructuring costs. Blink Charging had already planned to save nine million US dollars per year with the job cuts in the previous year.
While the company had described the economic and market-related challenges of the electric car industry as “only temporary” in the previous year, such an assessment is no longer to be found in the current announcement. Instead, the long-term success of the company is emphasised in several places – with the “more focused and agile organisation,” Blink wants to be able to react more quickly to market dynamics and take advantage of future growth opportunities, according to the statement. Instead of adjusting to a temporary situation, Blink now wants to permanently reorganise its own structure and adapt it to market conditions.
“Today’s decisions, while challenging, are crucial for propelling our BlinkForward strategy and ensuring the long-term success of Blink,” said Mike Battaglia, President and CEO 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.”
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