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Fisker Automotive Bankrupt? Plug-In Hybrid Carmaker Layoff 75% Of Workforce

Somber news came from Fisker Automotive this morning as media outlets reported that approximately 160 of its 200 odd employees were laid off due to deepening financial troubles.

Earlier in March company founder and former CEO Henrik Fisker decided to resign from his position due to major disagreements with the board over the direction the company should lead. What’s more, Reuters also reported last week that the automaker has reached out to the Kirkland and Ellis law firm for preparations of a possible bankruptcy filing.

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The layoff occurred this morning at 8 a.m. local time. Former employees emerging from the California-based Fisker office told reporters about 160 people lost their jobs. The terminated Fisker employees report that the company has not provided any severance pay beyond compensation for unused vacation days.

Beyond the terminations, Fisker Automotive released a company statement after 12 p.m. as well:

“Our efforts to secure a strategic alliance or partnership are continuing in earnest, but unfortunately we have reached a point where a significant reduction in our workforce has become necessary,” the statement said.
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