Northvolt slashes workforce in half under bankruptcy procedure
April 01, 2025
Under its bankruptcy filing, Swedish battery manufacturer Northvolt announced that it will lay off over half its 5,000 employees. The company, founded in 2016, has succumbed to mounting debt and what insiders now admit were strategic miscalculations. Once hailed as Europe’s answer to Asian dominance in EV battery production, Northvolt officially filed for bankruptcy on […]