ChargePoint Layoffs
Industry Manufacturing · Location SF Bay Area · United States · Subscribe (RSS)
ChargePoint has 3 publicly reported layoff rounds on record between September 8, 2023 and September 4, 2024. A total of about 250 employees were affected across these rounds.
Layoff history
ChargePoint announced on September 4, 2024 that it was cutting approximately 249 employees, 15% of its global workforce, after missing revenue estimates. The EV charging network operator said the reorganization would generate roughly $41 million in annualized operating expense savings and bring the company closer to its target of positive non-GAAP adjusted EBITDA by fiscal year 2026. Restructuring costs were estimated at around $10 million, composed primarily of severance and employee-related expenses. The cuts came about eight months after ChargePoint had already trimmed about 12% of its workforce in January 2024, reflecting continued pressure on the EV infrastructure sector.
Reason: Revenue miss and cost reduction to reach EBITDA targets
Source: marketwatch.com
ChargePoint disclosed a workforce reduction affecting its SF Bay Area operations in January 10, 2024.
Source: businesswire.com
ChargePoint disclosed a workforce reduction affecting its SF Bay Area operations in September 8, 2023.
Source: investorplace.com
Data for ChargePoint is compiled from public WARN Act filings and reporting linked above. See our methodology.