Lion Electric announced today it has eliminated 150 positions, about 10% of its total workforce.

The move was done in an effort to: “rationalize its cost structure and improving its ability to reach profitability objectives,” the company said in a release. Job losses will affect both Canadian and U.S. operations.

“Although this was a very difficult decision and we are sad to part ways with valued employees, this initiative was the right thing to do for the business at this point in time,” Marc Bedard, CEO and founder of Lion said in the release. “I am confident that the workforce remaining in place is more than capable to continue growing Lion’s leadership.”