Fisker Layoffs

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Struggling electric vehicle startup Fisker laid off hundreds of employees in late May 2024 as part of a desperate effort to conserve cash and stay afloat while seeking funding, a buyout, or preparing for potential bankruptcy. The layoffs were announced during an all-hands meeting after the company directed staff to work from home. Following several prior workforce reductions, including a 15% cut in February, estimates suggest only about 150 employees remain from the 1,135 reported in mid-April. The cuts were influenced by a major investor, with the company's restructuring officer having previously warned of over 300 layoffs if cash needs weren't met. Founder Henrik Fisker expressed a determined but somber outlook, emphasizing the continued sale of their Ocean SUV despite the severe downsizing in the competitive automotive industry.

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