Fisker puts US workers on furlough to conserve cash

Fisker's cash reserves have been in trouble ever since its Department of Energy loans were frozen, and now its putting its US workforce on furlough to keep money in the bank while it searches for a partner with deep pockets. "This is a common practice, particularly in the automotive industry, to manage costs and operations based on current activity levels and commercial requirements," said Fisker, which has over 200 employees in America, in a statement concerning the unpaid leave. Considering that battery woes and other mishaps have contributed to keeping assembly lines quiet, current activity levels are indeed low. Reuters says the automaker hasn't built a car since July, and it's coming up against a federal loan payment in late April. According to the outlet, Fisker was aiming to partner with Chinese auto companies that could bolster its finances, but talks are said to have crawled to a stop. Regardless, the firm is still on the lookout for an investor to fuel the production of its Atlantic hybrid.

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Fisker puts US workers on furlough to conserve cash