LION ELECTRIC ANNOUNCES WORKFORCE REDUCTION AND COST-CUTTING MEASURES [Yahoo! Finance]
The Lion Electric Company Common Shares (LEV)
Company Research
Source: Yahoo! Finance
medium and heavy-duty urban vehicles, announced today a reduction of its workforce, combined with other cost-cutting measures, aimed at further reducing its operating expenses and aligning its cost structure to current market dynamics. The workforce reduction affects approximately 120 employees, mostly Canada -based employees in overhead and product development functions. The measure should not negatively impact the Company's production capacity. Following this workforce reduction, Lion will have approximately 1,150 employees, including more than 600 manufacturing positions. In addition to the workforce reduction, Lion continues to undertake internal measures to reduce its cost structure, including in areas such as third-party inventory logistics, lease expenses, consulting, product development and professional fees. The workforce reduction and cost cutting measures announced today, combined with the measures announced in November 2023 and February 2024 , are expected to result
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News
- ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – NGAGlobeNewswire
- ROSEN, A TOP RANKED LAW FIRM, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action - NGAPR Newswire
- TOP RANKED ROSEN LAW FIRM Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – NGAGlobeNewswire
- ROSEN, NATIONAL TRIAL LAWYERS, Encourages Northern Genesis Acquisition Corp. n/k/a The Lion Electric Company Investors to Secure Counsel Before Important Deadline in Securities Class Action – NGAGlobeNewswire
- The Lion Electric Company (NYSE: LEV) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $2.50 price target on the stock, down previously from $5.00.MarketBeat
LEV
Sec Filings
- 4/18/24 - Form 6-K
- 4/15/24 - Form 6-K
- 3/4/24 - Form S-8
- LEV's page on the SEC website