Blink Charging Co. plans to reduce workforce by 20% to drive long-term growth globally

From Nasdaq: 2025-05-20 08:08:00

Blink Charging Co. (BLNK) is restructuring to accelerate its BlinkForward goals, improve efficiency, and drive long-term growth globally. The company plans to reduce its workforce by 20%, generating $11 million in annual savings at the cost of $1-1.5 million. The company aims to focus on innovation, agility, and shareholder value.

In Q1 2025, BLNK reported a revenue drop to $20.8 million, with a gross profit of $7.4 million and operating expenses at $28.4 million. The company’s cash, cash equivalents, and securities totaled $42 million. Tesla (TSLA) saw revenues decline to $19.3 billion, while ChargePoint (CHPT) reported a revenue increase to $75.3 million.

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Read more at Nasdaq: Blink to Slash Headcount to Expedite BlinkForward Initiative