Heliogen, Inc.: restructuring charge — Heliogen to cut ~25% of workforce, close Long Beach facility as part of restructuring

Heliogen, Inc.

Workforce reduced by ~35 employees (~25% from Mar 31, 2024; ~50% from Mar 31, 2023) to ~100.
Closing Long Beach, CA manufacturing facility; reducing third-party costs.
Affected employees notified May 16, 2024; cuts substantially completed by June 2024.
Costs not yet estimable; include severance, benefits, and facility closure charges.
Company continues to explore strategic alternatives with financial advisor.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Heliogen, Inc. announced a restructuring affecting manufacturing facility in Long Beach, California (approximately 35 employees).

Type: restructuring
Affected area: manufacturing facility in Long Beach, California
Headcount: approximately 35 employees

Exact text from the filing

On May 16, 2024, Heliogen, Inc. (the “Company”) made the decision to implement a targeted plan, which includes a workforce reduction, the closing of the Company’s manufacturing facility in Long Beach, California, and a reduction in third-party costs.

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Source: SEC EDGAR

accession 0001840292-24-000026

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