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Faraday Future confirms layoffs and wage cuts as struggles continue
The future of Faraday Future is starting to look bleak. The electric car startup has laid off part of its workforce and is slashed the wages of its employees by 20 percent, as first reported by The Verge and confirmed in a statement from a company spokesperson. The move comes as the company is in the middle of a standoff with the company's primary investor.
RIM reportedly firing up to 6,000 in $1 billion savings drive
The Waterloo Record is reporting that RIM is laying off a portion of its workforce as part of its cost-cutting review process. It's believed that between 2,000 and 6,000 employees could be let go as the troubled company attempts to save $1 billion by the end of the fiscal year. Company watcher Martin Chmiel took to Twitter to say that the manufacturing team had been hardest hit, with hundreds of people departing in the past 24 hours.
