Redwood Materials Restructures with 10% Workforce Reduction to Focus on Energy Storage
Redwood Materials has laid off approximately 135 employees, or 10% of its workforce, as part of a restructuring effort to focus on its energy storage business. This follows a previous 5% workforce reduction and a $425 million funding round that raised its valuation to over $6 billion. The company claims it remains strong and is expanding its presence in battery recycling and energy storage.
Topics: Battery Industry Energy Storage Layoffs Redwood Materials Restructuring