Polestar Automotive lays off employees

In May 2023, Polestar announced a 10% layoff worldwide, affecting about 300 people. At the same time, the company also suspended recruitment. In January of this year, Polestar announced a 15% global layoff, involving about 450 employees. The move aims to adjust the scale of business and operations, reduce external spending, accelerate profit margin improvement, and reduce the company's total capital needs to achieve cash flow balance by 2025. Polestar reportedly plans to lay off about 30% of its employees by the end of September. In addition, there are reports that Polestar's factory in Chengdu has been closed and many employees responsible for production and supply chain have been fired. At present, Polestar has not responded to this news.