EnergySE

Northvolt Layoffs

September 2024

Northvolt announced a layoff affecting 1,600 employees (20% of its workforce) in September 2024. The company operates in the Energy sector.

People Affected

1,600

Percentage

20%

Announced Date

Sep 24, 2024

About

Northvolt, a European battery startup, announced layoffs of 1,600 employees, representing about 20% of its workforce, as part of cost-cutting measures. The company cited lower-than-expected demand growth for electric vehicles and execution issues, including a canceled contract with BMW. The layoffs were accompanied by halting factory expansions in Sweden.