Fisker Automotive has been seeing its troubles go from bad to worse, and its now announced its most drastic steps yet to keep the company afloat. In a statement released this afternoon, the company confirmed that it is making a "significant reduction" in its workforce, which it says will ultimately leave it with approximately 25 percent of its employees -- Bloomberg pegs the number of layoffs at about 160 based on its sources, down from the 200 it employed as of last week. Fisker's statement also notes that the company is continuing its efforts to secure a strategic alliance or partnership, but says it had reached the point where layoffs became unavoidable. As Bloomberg mentions in its report, Fisker has to date only sold 2,500 of its electric vehicles, which have been beset by delays and recalls in recent years.

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Fisker announces steep layoffs, cuts company down to 25 percent of its workforce