Electric vehicle startup Fisker has recently laid off hundreds of employees as it grapples with financial challenges and seeks potential funding, a buyout, or prepares for bankruptcy.
TechCrunch reports that in a desperate attempt to stay afloat, struggling EV startup Fisker has resorted to mass layoffs, cutting hundreds of jobs in a bid to survive its current financial crisis.
Suspicions of impending layoffs arose when Fisker instructed all employees to work from home on Wednesday, a move that deviated from the company's usual practices.
According to employees who attended the meeting, founder and CEO Henrik Fisker revealed that the large investor to whom the company owes money, along with the chief restructuring officer working on the investor's behalf, pushed for more job cuts.
Although Fisker has not publicly disclosed the identity of the investor, Henrik Fisker mentioned Heights Capital Management, an affiliate of Susquehanna International Group, during the meeting.
Vice President Joe Biden speaks about the announcement that Fisker Automotive will produce plug-in hybrid electric vehicles at the former General Motors Boxwood Plant, Tuesday, Oct. 27, 2009, in Wilmington, Del. Estimates from current and laid-off employees suggest that only about 150 people remain at the company following the recent layoffs.
Fisker also suggested that laid-off workers might be re-hired once the company regains its footing.
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