Volta Inc - Ordinary Shares - Class A

NYSE:VLTA   4:00:00 PM EDT
0.47
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Layoffs, Other Pre-Announcement

Volta Realigns Organization To Reduce Costs And Drive Strategic Priorities

Published: 09/28/2022 21:45 GMT
Volta Inc - Ordinary Shares - Class A (VLTA) - Volta Realigns Organization to Reduce Costs and Drive Strategic Priorities.
Volta Inc - Announcement Represents a 10% Reduction in Current Full-time Employees.
Volta Inc - Company is Revising Its Q3 Revenue Guidance to Between $13.5 Million and $14.5 Million.
Volta Inc - As of Today, Co Has Reduced About 18% of Its Full-time Employees Through Other Workforce Reductions and Organic Attrition Since June 1.
Volta Inc - Withdrawing Its Full Year 2022 Revenue and Install Guidance Until Further Notice.
Volta-implementing Additional Cost Savings Initiatives Through Tightening Business Processes, Limiting Use of Outside Consultants, Consolidating Teams.
Volta Inc - Remains Committed to Securing Additional Funding, Including Government Incentives That Will Become Available in 2023.
Volta Inc - Additional Cost Savings Initiatives Through Consolidating 3 San Francisco Offices Into One, Managing Marketing and Administrative Costs.
Volta Inc - Intends to Continue Prioritizing Ev Charger Installations That Qualify for Government-provided Funds.