KULR Technology Group slashes workforce by 15%

KULR Technology Group Inc, a leader in sustainable energy management, said on Tuesday that it had reduced its total workforce by about 15%.

The announcement comes at a time, when KULR works to allocate resources to its key business priorities, while servicing recurring aerospace and defense contracts.

The company streamlined operations at its headquarters in San Diego, California, as it continued focusing on the KULR ONE Design Solutions testing platform.

“As we pivot the Company to focus on the KULR ONE services and platforms, we can gain operational efficiency by consolidating our battery related activities in the Webster, Texas facility. This action is critical for KULR’s goal of being operational income positive exiting Q2 2024. Our San Diego facility will remain focused on automated testing and historical thermal management products,” Keith Cochran, KULR Technology Group’s President and COO, said in a press release.