Battery maker Northvolt announced plans to cut a total of 1,600 jobs in Sweden as part of a strategic review. The company said it would reduce its global workforce by around 20% and a 25% reduction in Sweden to focus on accelerating production at its large-scale cell manufacturing facility.
Northvolt said that following initial steps taken as part of a strategic review, the company had revised its scope of operations in Sweden "to ensure that its resources are focused on accelerating production in large-scale cell manufacturing at Northvolt Ett."
The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Alongside plans to lay off staff, the cash-strapped company said it would suspend plans for a sizable expansion of Northvolt Ett, noting the project had been intended to provide an additional 30 gigawatt hours of annual cell manufacturing capacity.
Northvolt Job Cuts Restructuring Battery Manufacturing Sweden
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