Brief: Enovix Corp Reduction Of Workforce By Approximately 185 Personnel

Enovix

03/10/2023 13:10

Oct 3 (Reuters) - Enovix Corp  ENVX.O :
    * ENOVIX CORP: REDUCTION OF WORKFORCE BY APPROXIMATELY 185
PERSONNEL
    * ENOVIX CORP: EXPECTS THIS RESTRUCTURING TO BE COMPLETED
DURING
Q4 OF 2023 AND RESULT IN ANNUALIZED SAVINGS OF APPROXIMATELY $22
MILLION
    * ENOVIX CORP: IN Q3 OF 2023 CUT OFF PRODUCTION AT
APPROXIMATELY
24,000 SMALL CELL UNITS
    * ENOVIX: TO RECOGNIZE ACCELERATED DEPRECIATION EXPENSES OF
ABOUT
$36 MILLION FOR GEN1 EQUIPMENT BETWEEN Q4 2023 & Q1 2024

Source text for Eikon:  ID:nGNX3v6zTb 
Further company coverage:  ENVX.O 

 ((Reuters.Briefs@thomsonreuters.com;))