Fisker Cuts Hundreds of Workers Amid Financial Struggles

May 29, 2024, 10:23 PM

Electric vehicle startup Fisker has implemented a new round of layoffs, cutting hundreds of workers across several teams. The layoffs, which were announced by CEO Henrik Fisker during an all-hands meeting on Wednesday morning, come as the company struggles to stay afloat. Fisker is reportedly on the verge of running out of cash and is exploring options such as securing additional funding, a potential buyout, or preparing for bankruptcy. Multiple employees confirmed they had abruptly lost access to the company’s email earlier in the day. The exact percentage of the workforce affected by the layoffs is not known. The news was reported by TechCrunch.