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Fisker starts new round of layoffs to ‘preserve cash’

The cuts come one week after the company warned investors that it needed to slash expenses to stave off a looming bankruptcy.

EV startup Fisker Inc. is laying off more employees to “preserve cash,” one week after warning investors it would have to make cuts to stave off impending bankruptcy, according to an internal email viewed by TechCrunch. “[I]t is with great personal pain and sadness that I deliver the difficult news that today we are making further reductions to our workforce,” Fisker wrote in the email. The company announced last week that it hired a chief restructuring officer who is now in charge of approving Fisker Inc.’s budget, as well as the decision-making process for any sale ofthe business.

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