Redwood Materials Trims Workforce Despite $350M Investment

Redwood Materials, a battery recycler and cathode maker, is cutting its workforce by 5% despite securing a $350M investment. The company, founded by former Tesla CTO J.B. Straubel, is expanding into cathode production and energy storage using old EV batteries. Despite recent growth and a $6B valuation, the company declined to comment on the layoffs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.