LION ELECTRIC ANNOUNCES FURTHER WORKFORCE REDUCTION IN THE CONTEXT OF ONGOING CCAA PROCEEDINGS
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 03 2025
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Source: PRnewswire
Workforce Reduction Announcement: The Lion Electric Company has announced temporary layoffs of approximately 150 employees in Canada and the U.S. as part of its restructuring process under the Companies' Creditors Arrangement Act (CCAA), leaving around 160 employees to focus on customer maintenance and servicing.
Company Background and Future Outlook: Lion Electric is a manufacturer of zero-emission vehicles, including electric school buses, and is undergoing a sale and investment solicitation process while facing financial uncertainties that may impact its future operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
