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Fisker Signals More Layoffs as Bankruptcy Protection Looms [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Fisker has been selling 2023 Ocean models at a steep discount in order to shore up cash reserves, but a larger-scale intervention from an investor is likely required. The EV startup plans more layoffs, in addition to a reduction of its physical footprint. Despite having started deliveries of the Ocean SUV less than a year ago, Fisker is currently in dire straits, and has warned investors in the latest SEC filing that it could seek bankruptcy protection within a month. The EV maker has been trying to find new sources of funding for months and was reported to be in talks with a major automaker earlier this spring, while also warning that it might not be able to continue its operations through the end of 2024. Those talks do not appear to have resulted in an injection of capital, with Fisker now confirming it has hired financial advisors ahead of a possible filing for bankruptcy protection. In the latest Securities and Exchange Commission filing, the EV maker said it missed an
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