Faraday Future says hundreds of furloughed employees won’t return to work next week

Start of e-commerce Faraday Future has told workers that they can no longer find jobs on March 1 as planned according to an e-mail sent on Tuesday about "furlough" or unpaid leave The Vertge . The company did not say how long, although it says extension. These employees have been enjoying benefits since December.

Faraday Futur has sought new funding since last October, when he fought an ugly public struggle with the biggest foreign investor Evergrande, a Chinese real estate giant. Evergrande spent $ 2 billion on California-based EVs at the end of 2017, but Faraday Future was the first to post a $ 800 million installment by mid-2018. When Faraday Future asked Evergrande to promote half of the remaining $ 1.2 billion, Evergrande refused to lock the two issues in a power struggle that ultimately refused to scam.

As a result, the workforce of Faraday Futura suffered wage cuts and layoffs, and in the end, hundreds of employees received unpaid leave in December. The number of people at Faraday Future dropped from 1,000 to 600 in early November. As of December, only about 250 employees avoided firing and obscenity.

The fight between Faraday Future and Evergrande and subsequent layoffs drove away many key executives last fall. Peter Savagian, long-time GM veteran and EV pioneer, and co-founder Nick Sampson resigned for three days.

Sampson told employees on his resigned e-mail that the company is "really bad." The ripple effect on the lives of our employees, family and loved ones [sic] If you know the effect [sic]you can not continue. "

Faraday Future and Evergrande reached a sort of truce at the end of 2018. Evergrande agreed to terminate the deal and Faraday Future would use the money of others to find a way forward. In the e-mail sent on Tuesday evening, Faraday Future said, "Potential investors and asset-based debt financing, as well as asset-based debt financing, "

Faraday Future was founded in 2014 and designed an electric luxury SUV, the FF91, which is designed to meet the needs of the market. came. The FF91 is faster than most Teslas and sells for $ 200,000. The start-up has ended in the last two years due to financial turmoil. Faraday Future has decided to invest in Evergrande at the end of 2017 and then produce FF91 by the end of 2018. But now more than ever, companies and cars are in danger.

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