FALCON POWERS – In a new and “expected” development, Northvolt, a company specializing in the production of electric batteries and solar panels, announced the layoff of 1,600 jobs in Sweden. CEO Peter Carlsson stated in a press release on Monday that the financial and employment situation is extremely challenging, and we must focus our energy and investments on our core business, which is why 1,600 workers and employees will be laid off.
Approximately 1,000 jobs are set to be eliminated in the municipality of Skellefteå in northern Sweden, 400 in Västerås, and 200 in Stockholm. This means that a quarter of the company’s workforce will be laid off, with the possibility of further layoffs if the company’s financial situation does not stabilize.
Swedish television correspondent Kristina Lagerström commented, “This is a dramatic announcement representing a significant reduction in the number of employees, far exceeding the 300 jobs the company mentioned a few weeks ago, now up to 1,600 workers and employees. It is clear that the electric battery giant dedicated to electric vehicles is heading toward bankruptcy.”
