BRIEF-Enovix Corp Reduction Of Workforce By Approximately 185 Personnel
Oct 3 Enovix Corp:
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ENOVIX CORP: REDUCTION OF WORKFORCE BY APPROXIMATELY 185 PERSONNEL
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ENOVIX CORP: EXPECTS THIS RESTRUCTURING TO BE COMPLETED DURING Q4 OF 2023 AND RESULT IN ANNUALIZED SAVINGS OF APPROXIMATELY $22 MILLION
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ENOVIX CORP: IN Q3 OF 2023 CUT OFF PRODUCTION AT APPROXIMATELY 24,000 SMALL CELL UNITS
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ENOVIX: TO RECOGNIZE ACCELERATED DEPRECIATION EXPENSES OF ABOUT $36 MILLION FOR GEN1 EQUIPMENT BETWEEN Q4 2023 & Q1 2024
It’s down 14% more pre-market, on top of its 50% drop since July.
Saul