---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-009933"
form_type: "8-K"
ticker: null
cik: "0001827980"
company_name: "Embark Technology, Inc."
filed_at: "2023-03-03T23:59:59+00:00"
generated_at: "2026-06-18T13:28:23.795189+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Embark Technology cuts 230 jobs, explores strategic alternatives including potential dissolution

## Summary
- Workforce reduction of approximately 230 employees approved March 1, 2023.
- Estimated charges of $7 to $11 million, mostly in Q1 and Q2 2023.
- Board approved process to explore strategic alternatives, including potential dissolution and liquidation.
- Company previously explored sale with financial advisor; no assurance of outcome.
- Expects reduction in force substantially complete by end of Q2 2023.

## SEC filing metadata
- accession: 0001140361-23-009933
- form_type: 8-K
- cik: 0001827980
- company_name: Embark Technology, Inc.
- filed_at: 2023-03-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1827980/000114036123009933/0001140361-23-009933-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1827980/000114036123009933/brhc10049273_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-009933
- JSON: https://secwatch.observer/filing/0001140361-23-009933.json
- Plain text: https://secwatch.observer/filing/0001140361-23-009933.txt

## Key facts
- Restructurings & Charges
  Embark Technology, Inc. announced a restructuring with charges of approximately $7 to $11 million (approximately 230 employees).
  - Type: restructuring
  - Charge: approximately $7 to $11 million
  - Headcount: approximately 230 employees
  source text: On March 1, 2023, the Board of Directors of Embark Technology, Inc. (the “Company”) approved a reduction in the Company’s current workforce by approximately 230 employees. The decision was based on cost-reduction initiatives intended to reduce operating expenses. The Company currently estimates that it will incur charges of approximately $7 to $11 million in connection with the reduction in force, primarily consisting of notice period and severance payments, employee benefits, equipment costs and related costs, and noncash expenses associated with vesting of share-based awards.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1827980/000114036123009933/0001140361-23-009933-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.