Electric vehicle startup Fisker Inc., according to an internal email reviewed by TechCrunch. is shedding more employees to “preserve cash” a week after warning investors it might have to make cuts to avert an impending bankruptcy.
Founder and CEO Henrik Fisker told employees Monday morning in an email that the company “continues to evaluate all viable options for our business, including a potential transaction, and we are committed to identifying potential acquirers and paths to inject capital into the company.”
“That said, we must conserve cash to keep these options available,” he wrote. He previously told employees at a meeting last week that the company was still meeting with automakers under an NDA that was first reported by Business Insider.
“[I]It is with great personal pain and sadness that I share the difficult news that we are making further job cuts today,” Fisker said in an email.
It is unclear how many Fisker Inc. employees. slows down. A spokesman didn’t immediately respond to a request for comment. According to official data, as of April 19, Fisker employed 1,135 people. He previously announced cuts of 15% in February.
Last week, the company announced that it had hired a chief restructuring officer who is now responsible for approving Fisker Inc.’s budget in addition to the decision-making process if the company is sold. It was reported that as of April 16, it had just $54 million in money and equivalents.