Enovix says early November restructuring cut 220 positions and about $8.5 million in annual costs
ENVX•Enovix said an early November restructuring eliminated 220 positions and cut about $8.5 million in annual costs; it issued FY2027 revenue guidance of $65 million to $85 million.
1. Restructuring and guidance
Enovix said its early November restructuring included a 220-position reduction that cut about $8.5 million in annual costs and rebalanced resources toward Korean operations. The company issued FY2027 revenue guidance of $65 million to $85 million and said drones were driving strong revenue growth.
