ChargePoint, a leading electric vehicle-charging company in the Bay Area, has announced layoffs affecting 15% of its workforce, approximately 250 employees, in its second round of cuts this year.
The announcement was made during the company’s second-quarter earnings call last week.
“Today, we have implemented an action plan to create efficiencies while reducing operating expenses,” said Rick Wilmer, CEO of ChargePoint, in a statement. “Our focus on delivering new software and hardware solutions that make it easier to go electric remains unchanged.”
Headquartered in Campbell, ChargePoint reported a revenue of $108.5 million, a drop of 28%, from $150.5 million, in the same quarter the previous year. Revenue from networked charging systems plummeted by 44%, to $64.1 million. However, subscription revenue saw a 21% increase to $36.2 million, up from $30 million year-over-year.
https://www.sfchronicle.com/tech/article/chargepoint-layoffs-2024-19752656.php