Redwood Materials Trims Workforce Despite Funding Boost
Update: 2025-11-26
Description
Redwood Materials, a battery recycling and cathode manufacturing company, is reducing its workforce by about five percent despite securing a $350 million funding round. The company, founded by former Tesla CTO J.B. Straubel, is expanding into energy storage products using old EV batteries. Despite the recent funding and expansion, the company is cutting several dozen jobs, highlighting the unpredictable nature of rapidly growing industries.
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