Northvolt Cuts Workforce to 1,700 as Part of Bankruptcy Process

Bankrupt battery maker Northvolt AB will continue to operate in Sweden with a staff of 1,700 while its remaining employees will be laid off.

“Despite significant reductions, it is positive that the business can continue to some extent, which is likely crucial to enabling a full or partial sale of the business,” Northvolt’s bankruptcy trustee, Mikael Kubu, said in an emailed statement.

The company had a total staff of about 7,000 prior to running out of money last year following a series of operational blunders that forced it to file for bankruptcy protection in the US.

That legal process provided ...