Fisker, recipient of government loans, lays off 75% of workforce
April 5th, 2013
03:47 PM ET
1 year ago

Fisker, recipient of government loans, lays off 75% of workforce

New York (CNNMoney) - Fisker Automotive, maker of the plug-in hybrid Fisker Karma luxury car, has laid off 75% of its workforce, keeping only a small core group of executives, the company said Friday.

Prior to the lay-offs Fisker had had about 200 employees.

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Filed under: Energy
soundoff (19 Responses)
  1. Ed1

    More wasted tax dollars way to go Obama and all of your Democrats friends.

    April 5, 2013 03:51 pm at 3:51 pm |
  2. Donna

    Another Obama green company disaster.... how many millions or billions will this failure cost taxpayers? And lost for what? "luxury cars"!!! But as we all know because has said it is so, this was critical government spending that just had to be done. Wake up America!!!

    April 5, 2013 04:02 pm at 4:02 pm |
  3. Dutch/Bad Newz, VA -aka- TAKE BACK THE HOUSE

    Name a middle class family that owns one of these vehicles.......crickets........That money could have been better invested. It's a luxury car. The people who can afford this vehicle can afford to put gas in it.

    April 5, 2013 04:03 pm at 4:03 pm |
  4. just askin

    how many obama campaign contributors worked for or owned this company??? more chicago style corruption from our con-artist-in-chief.

    April 5, 2013 04:04 pm at 4:04 pm |
  5. Tea Party Thomas

    More of our tax money flushed down the toilet. Time to hold hearing and see who got what.

    April 5, 2013 04:11 pm at 4:11 pm |
  6. Jerubbaal

    Donna, you mean like the 2 trillion and counting on the Iraq War. What did that get us?

    April 5, 2013 04:16 pm at 4:16 pm |
  7. truth hurts but reality bites

    On a more optimistic note, the company had recently hired Tony Posowatz as president and chief executive. Posowatz formerly worked at General Motors where he was largely responsible for the creation of the Chevrolet Volt plug-in car.
    -------

    Seriously??? The Volt was a disaster! So you hire the Master of the Volt Disaster??? And our tax dollars are being flushed down the toilet for this level of incompetence?!! Meanwhile Obama shuts down White House tours....

    April 5, 2013 04:17 pm at 4:17 pm |
  8. Tommy G

    I am sure they are failing because the Obama administration didn't pump at least $10 billion into the company. Had they done that I'm sure this company could have lasted a few more years until they went belly up and all of Obama friends walked away with their pockets full of our tax dollars.

    April 5, 2013 04:31 pm at 4:31 pm |
  9. Larry in Houston

    the so called "execs" should actually work on the factory floor, for once in their lifetime. Yeah, that's right, lay everybody off in this country, even lay off the people that work for McD – and only have the Managers & Assistant Mgrs. work the cash register, AND do the Cooking !!

    April 5, 2013 04:33 pm at 4:33 pm |
  10. jkane sfl the gop national disgrace party will be swept out like the trash they are in2014 ?

    We have to try new energy sources and get rid of the oil monoply wiggle the gop in their pocket . I say get rid of the oil companies and their gop stooges !!!

    April 5, 2013 04:40 pm at 4:40 pm |
  11. Lynda/Minnesota

    " ... has laid off 75% of its workforce, keeping only a small core group of executives, the company said Friday."

    Hey, GOPers. Having been there, done (laid off) my husband and I can honestly say there isn't much left we can "give" you corporate takers. I know, I know ... you're gonna try get what's left, no matter what. I just don't know why what little I have left is so worth your bother to get it.

    But, hey. If taking from me is what you want ... take away. Just don't expect my vote.

    Yeah, I know. You all want to take THAT away, too.

    April 5, 2013 04:41 pm at 4:41 pm |
  12. just askin

    Jerubbaal
    Donna, you mean like the 2 trillion and counting on the Iraq War. What did that get us?
    --

    do all obama supporters suffer from adhd??? so you support the wasting of our tax dollars for the manufacturing of luxury electric cars? it is clear obama does.

    April 5, 2013 04:51 pm at 4:51 pm |
  13. kingsley

    Why would someone blame our president for trying to help this company recover. The critcs will always pounce on him even when he tries to help small business, This man can never do right. Critics always focuses on companies that didnt do good like solindra, fisker what about the automobile industry in general. Unfortunately this company laid off people like any other company out there has done during the recession, why didnt anyone blame other companies. So obama do supports small businesses because that was what the republicans framed it to be during election time that he doesnt care about small businesses.

    April 5, 2013 04:54 pm at 4:54 pm |
  14. rs

    Donna-
    Learn to read. Fisker employed 200 workers. It is a speck on the industrial landscape. I know individual WalMart stores that lay off more than 150 people.

    Wow, sad news that some rich people won't be able to buy a %100 k high-performance hybrid car! I feel for them. NOT!

    April 5, 2013 04:56 pm at 4:56 pm |
  15. Thomas

    @Tea Party Thomas
    More of our tax money flushed down the toilet. Time to hold hearing and see who got what.
    =====

    I'd rather see a hearing to expose all the wasted BILLIONS to private contractors during the Afghan and Iraq war's.

    The problem with Fisker Automotive is they designed an electric car for a male with no understanding of practical functional use . Next time have a woman design a practical electric vehicle .
    For over sent years we have been filling up our tanks with the most dirty inefficient fuel , it's time to change !

    Or look at the Tesla !

    April 5, 2013 05:00 pm at 5:00 pm |
  16. Sniffit

    "And our tax dollars are being flushed down the toilet for this level of incompetence?!!"

    The gov't withdrew the commitments. LEARN TO READ THE FREEKIN ARTICLE BEFORE OPENING YOUR YAP.

    April 5, 2013 05:00 pm at 5:00 pm |
  17. Thomas

    @Tea Party Thomas
    More of our tax money flushed down the toilet. Time to hold hearing and see who got what.
    =====

    I'd rather see a hearing to expose all the wasted BILLIONS to private contractors during the Afghan and Iraq war's.

    The problem with Fisker Automotive is they designed an electric car for a male with no understanding of practical functional use . Next time have a woman design a practical electric vehicle .
    For over eighty years we have been filling up our tanks with the most dirty inefficient fuel , it's time to change !

    April 5, 2013 05:01 pm at 5:01 pm |
  18. Sniffit

    Chronology:

    1. Government withdraws loan guarantees for Fisker's failure to meet requirements.

    2. Fisker fires employees because of it.

    3. GOPers/Teatrolls complain about it all as though the loan guarantees weren't withdrawn.

    Any questions?

    April 5, 2013 05:03 pm at 5:03 pm |
  19. truth hurts but realiy bites

    Sniffit
    "And our tax dollars are being flushed down the toilet for this level of incompetence?!!"
    The gov't withdrew the commitments. LEARN TO READ THE FREEKIN ARTICLE BEFORE OPENING YOUR YAP.
    ----–

    "Fisker, recipient of government loans, "

    YOU might want to try reading the headline before opening YOUR yap!! And let me wash this crow down with the facts that we lost $199 MILLION in tax dollars.

    DOE had agreed to loan Fisker $528 million. Fisker already has drawn $169 million to pay the California engineers and others involved in developing the Karma. It is built in Finland, which raised some eyebrows about U.S. taxpayers' money supporting, indirectly, an overseas manufacturing operation. Ormisher says more than 50% of Karma's parts are from the U.S. and it was designed and developed in California.

    The bulk of the loan, $359 million, is to purchase and refurbish the former GM factory in Delaware. Fisker had drawn only about $30 million of that before missing the DOE milestones and losing access to the federal loan money.

    April 5, 2013 05:16 pm at 5:16 pm |