Lion Electric, a Canadian-based electric bus and truck manufacturer, has announced a cost-cutting programme removing 150 jobs from the business in a bid to accelerate the company’s shift to profitability.
This reorganisation will impact 150 employees, representing approximately 10% of Lion’s overall workforce. The affected roles span across production overhead, manufacturing, product development, and administrative functions, covering operations in both Canada and the United States.
Marc Bedard, CEO-Founder of Lion Electric, acknowledged the challenging nature of this decision while emphasising its necessity for the company’s financial health. In a statement, Bedard stated, “Although this was a very difficult decision and we are sad to part ways with valued employees, this initiative was the right thing to do for the business at this point in time.” He expressed confidence in the remaining workforce’s capabilities to sustain and further enhance Lion’s leadership in the industry.
The strategic workforce reduction aligns with Lion Electric’s broader initiative to streamline operations, enhance efficiency, and position the company for sustained growth and profitability. By addressing specific functions, Lion aims to optimise its operations and ensure a robust foundation for future endeavours.
While the decision to reduce the workforce is undoubtedly challenging, Lion Electric remains committed to its overarching goals and believes that these measures will contribute to the long-term success of the company. The remaining workforce is expected to play a crucial role in driving Lion Electric’s continued growth and maintaining its leadership position in the electric vehicle manufacturing sector.
As Lion Electric navigates this period of reorganisation, the company’s leadership anticipates that these adjustments will ultimately reinforce its ability to meet financial objectives and adapt to the dynamic landscape of the electric transportation industry.