Lion Electric Announces Workforce Reduction To Rationalize Cost Structure.
The Lion Electric Company (NYSE:Â LEV) (TSX: LEV) (“Lion” or the “Company”), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today a workforce reduction aimed at rationalizing its cost structure and improving its ability to reach its profitability objectives.
The reduction affects 150 employees (approximately 10% of Lion’s total headcount) in production overhead, manufacturing, product development and administrative functions, both in Canada and the United States.
Marc Bedard, CEO-Founder of Lion, said:
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Although this was a very difficult decision and we are sad to part ways with valued employees, this initiative was the right thing to do for the business at this point in time.
“I am confident that the workforce remaining in place is more than capable to continue growing Lion’s leadership”, he added.
ABOUT LION ELECTRIC
Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric school buses. Lion is a North American leader in electric transportation and designs, builds and assembles many of its vehicles’ components, including chassis, battery packs, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life. Lion shares are traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol LEV.
READ the latest Batteries News shaping the battery market
Lion Electric Announces Workforce Reduction To Rationalize Cost Structure. source
