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