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Fisker Cuts 15% of Workforce and Reserves Additional Funds for Challenging Times Ahead

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Fisker is laying off 15% of staff and says it needs more cash ahead of a “difficult year”Electric vehicle startup Fisker is planning to lay off 15% of its workforce and says it likely does not have enough cash on hand to survive the next 12 months. “[W]e have put a plan in place to streamline the company as we prepare for another difficult year,” founder and CEO Henrik Fisker said in a statement. Fisker said Thursday that it finished 2023 with $396 million in cash, though $70 million of that is restricted. The company says it is talking with one of its lenders about making “an additional investment” in the company. Fisker has also been dealing with a number of problems with its Ocean SUV, its only model so far, as TechCrunch reported earlier this month.