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Fisker Automotive furloughs employees to conserve cash

March 28, 2013|Ronald D. White
  • Furloughs by electric-car maker Fisker Automotive affect more than 200 employees.
Furloughs by electric-car maker Fisker Automotive affect more than 200… (Fabrice Coffrin / AFP/Getty…)

Fisker Automotive Inc., the beleaguered maker of high-end electric cars, is furloughing employees for a week to conserve cash.

Callers to Fisker's Anaheim office were greeted Thursday with a voice message advising that the office was closed Friday, March 22, and would remain closed through Sunday, March 31.

The furloughs, which affect more than 200 employees, came just two weeks after the company's founder resigned as executive chairman amid a management dispute.

The departure of Henrik Fisker and the furloughs also come after a series of management changes at the automaker as it has dealt with the bankruptcy of its battery supplier and a cutoff of federal start-up aid.

Executives at the automaker have spent the last several months trolling the global markets for potential investors.

The company has said it needs about $500 million to launch a second, less-expensive model that would be made at a factory in Wilmington, Del.

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