Faraday Future says hundreds of furloughed employees won’t return to work next week
EV startup Faraday Future has told employees on “furlough,” or unpaid leave, that it can no longer bring them back to work on March 1st as planned, according to an internal email sent Tuesday and obtained by The Verge. The company says it is extending the furlough, but did not say for how long. These employees have been on furlough since December, with benefits.
Faraday Future has been searching for new funding since last October, when it got into an ugly public fight with its biggest outside investor, Chinese real estate giant Evergrande. Evergrande committed $2 billion to the California-based EV startup at the end of 2017, but Faraday Future spent the first $800 million installment by mid-2018. When Faraday Future asked Evergrande to...
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