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Faraday Future Employees Face Layoffs, Pay Cuts

socalTECH

According to information leaked from employees within the company, the pay cut and layoffs started this week, as Faraday has run out of funding due to a legal spat with the Chinese company that bailed out the company last year.

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The Station: Via hits $2.25B valuation, letters from readers, layoffs in a time of COVID-19

TechCrunch LA

A few of the highlights include biking as one of the few bright spots, how some companies have pivoted to providing rides to healthcare workers and insights on how the industry and cities might have reacted had the pandemic occurred two years in the future. Via isn’t the only company shifting its attention to emergency services.

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Report: Veoh Planning Major Layoffs

socalTECH

Quoting a "source close to the company" VentureBeat said that the layoffs would be "drastic." The firm is venture backed by Intel Capital, Adobe, Shelter Capital, Spark Capital, Goldman Sachs, Michael Eisners Tornante Company, Time Warner Investments, among others. Tags: veoh layoff jobs video content.

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Struggling EV firm Faraday Future gets another financial lifeline with new $225M investment

TechCrunch LA

The company, famous for lavish promotions but little substance , has received yet another financial lifeline in the wake of a dispute with key investor Evergrande. billion capital raise that the company believes it can close before the end of this year. Faraday announced on Monday that it had received $225 million in bridge financing.

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Almost 25% of Laid-off Tech Workers Start Their Own Businesses

Tech.Co

A huge number of tech companies have made layoffs in 2022 , whilst others have taken advantage of video conferencing software and other remote collaboration tools to offer flexible working arrangements and retain the best talent. Quick out the Blocks. That’s even higher than “funding” (43%), “time” (41%), and “cash flow” (40%).

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Report: Faraday Future Loses Key EV Designer

socalTECH

Troubled, Los Angeles-based electric vehicle startup Faraday Future has lost a key electric vehicle designer, among a number of layoffs at the company over the last few weeks, according to a report. READ MORE>>.

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LA's Faraday Future Faces New Financial Troubles

socalTECH

Los Angeles-based electric car maker Faraday Future is facing new financial woes this morning, after the Chinese company which bailed out the company at the end of 2017 filed notice that it would seek to terminate a deal to invest a total of $2 billion into Faraday Future, reached last year. READ MORE>>.

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