Blink Charging announces restructuring including 20% workforce reduction

Blink Charging (BLNK) announced a strategic restructuring plan designed to accelerate its BlinkForward objectives, enhance operational efficiencies, and position the Company for sustained long-term growth and profitability in the evolving global market. 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. The BlinkForward initiative represents Blink’s commitment to innovation, efficiency, and a resilient future. By realigning its operational structure, the Company is taking decisive steps to build a more focused and agile organization, capable of rapidly responding to market dynamics and capitalizing on future growth opportunities. These measures are specifically designed to advance the BlinkForward vision, which prioritizes sustainable innovation, customer-centric solutions, and enhanced shareholder value.