Tag: job losses

Jan 31, 2019 - 01:12 pm

UK company LEVC lays off 70 employees

The London Electric Vehicle Company (LEVC) is to lay off 70 temporary employees, according to information from the BBC. Reasons were not given, but it is likely that Brexit has played a role.

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Oct 31, 2018 - 02:54 pm

Faraday Future “efficiently insolvent” says founder

The funds of Faraday Future are ultimately depleted and the EV startup “efficiently insolvent” founder Nick Sampson declared in an email to employees. Himself and senior product VP Peter Savagian have left the company and most workers have been sent on unpaid holiday.

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Oct 23, 2018 - 03:32 pm

Faraday Future cuts cost trying to stay alive

The crisis at Faraday Future continues after their fight with investor Evergrande Health remains unresolved. With funds running low, FF now had to lay off workers and cut the salaries of those who remain by 20 percent. This includes executives.

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Jun 13, 2018 - 12:06 pm

Tesla making 9% of workforce redundant

Elon Musk continues shaking up Tesla. The CEO now announced that his “reorg” will effectively see 9 percent of their workforce laid off. The cuts have already been made. Musk claimed Tesla needed this cost reduction to prove they are on a sustainable mission, that is profitable.

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Found on electrive.com
https://www.electrive.com/2019/01/31/uk-company-levc-lays-off-70-employees/
31.01.2019 13:01