Wallbox To Prune 15% Of Workforce

(RTTNews) - Wallbox N.V. (WBX), a provider of electric vehicle charging solutions, said on Thursday that it plans to cut 15 percent jobs as part of its efforts cut costs.

Enric Asuncion, CEO commented, "We invested heavily in manufacturing capacity and product innovation in 2022, which improves our long-term competitive position, and sets us up well for continued growth. However, as previously discussed, near-term disruptions in global supply chains have impacted EV delivery rates, and as a result, require us to better align our cost structure with the current demand environment."

Following the job cut, the firm expects annualized cost savings of around 50 million euros for 2023. Wallbox is scheduled to report its fourth-quarter results on March 1.