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EVgo ( NASDAQ: EVGO ) on Thursday said it will cut 40 jobs and look into directing the company's resources towards matters with "highest priorities" for 2023, including building out its public network in crucial locations.
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Shares -1.3% at $6.18 after hours.
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“We are aligning our workforce to capture growing market share in an evolving industry. EVgo is also focusing on operational excellence and efficiencies by optimizing our cost structure with continued resource investments in growth initiatives,” the company said.
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Seeking Alpha contributor RCK Analytics recently laid out a "Hold" case for EVGO .
For further details see:
EVgo to eliminate 40 positions as it prioritizes 2023 initiatives