Bullboard - Stock Discussion Forum Lion Electric Ord Shs T.LEV

Alternate Symbol(s): LEV | LEV.WS | LEV.WS.A | T.LEV.WT | T.LEV.WT.A

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The Lion Electric Company is a manufacturer of zero-emission vehicles. The Company designs and manufactures all-electric school buses, midi/minibuses for special needs or urban transit, as well as urban trucks. Each Lion vehicle is purpose-built for electric and designed and assembled in-house, with its own chassis, truck cabin or bus body, battery technology with modular energy capacity and... see more

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Lion Electric Ord Shs > Took long enough

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Post by Dibah420 on Nov 27, 2023 9:49am

Took long enough

Lion Electric Announcing Workforce Reduction To Rationalize Cost Structure

MT Newswires - Nov 27, 2023 9:11 AM EST

09:11 AM EST, 11/27/2023 (MT Newswires) -- The Lion Electric Company (NYSE and TSX: LEV), a manufacturer of all-electric medium and heavy-duty urban vehicles, announced Monday a workforce reduction aimed at "rationalizing its cost structure and improving its ability to reach its profitability objectives."

In a statement it said 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.

"This initiative was the right thing to do for the business at this point in time", said Marc Bedard, CEO-Founder of Lion. "I am confident that the workforce remaining in place is more than capable to continue growing Lion's leadership", he added.

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