Fisker cuts deeper with new wave of summer layoffs

• Fisker initiated another round of layoffs on Wednesday, multiple sources told Business Insider.
• The company has gone through a series of cuts and warned it might go out of business.

The embattled electric-vehicle startup Fisker kicked off another round of layoffs on Wednesday, four sources with knowledge of the issue told Business Insider.

Fisker has made several cuts to its workforce over the past few months. In February, its CEO announced plans to cut 15% of its staff. Most recently, Fisker sent a round of layoff notices on April 29.

The series of cuts are designed to eventually bring the workforce down to a skeleton crew of only "mission critical" staff, one Fisker employee with knowledge of the issue said.

The total number of employees affected by this latest staff reduction wasn't clear. A spokesperson for Fisker declined to comment.

Fisker has repeatedly warned over the past few months that the company may go out of business within the year. On April 29, the company sent notices to staffers, in compliance with the Worker Adjustment and Retraining Notification Act, that they may be laid off in two months if the company can't find a buyer or additional funding.

Fisker had that month told workers in an all-hands meeting that it was in talks with four automakers about a potential buyout.

Last week, Fisker's CEO told staffers in a companywide meeting that the company had reached out to other automakers in addition to the initial four. "I do hope we're closing in on something serious here in weeks rather than months," Henrik Fisker said.

In March, Business Insider first reported that Fisker had delivered over 6,000 all-electric Fisker Ocean SUVs since the model's launch. The company said in early 2023 that it had "approximately 65,000" reservations for the vehicle ahead of its US launch that June, but the company has since faced negative reviews and cancellations.

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