Enovix Layoffs
Industry Energy · Location SF Bay Area · United States · Subscribe (RSS)
Enovix has 2 publicly reported layoff rounds on record between October 5, 2023 and May 6, 2024. A total of about 355 employees were affected across these rounds.
Layoff history
Silicon battery maker Enovix cut approximately 170 workers at its Fremont, California factory in early May 2024, eliminating about a third of its total staff. The reductions were part of a push to lower annual operating costs by $35 million as the company moved manufacturing to a newly certified facility in Malaysia. Enovix had just announced a battery development agreement with an unnamed smartphone maker the week before the layoffs, signaling a strategic pivot toward Asian customers. R&D operations were retained in Fremont. The cuts came as the company worked to reduce cash burn and accelerate its path to profitability without requiring additional capital raises.
Reason: Cost reduction; manufacturing shift to Malaysia
Source: theinformation.com
Enovix disclosed a workforce reduction affecting its SF Bay Area operations in October 5, 2023. Approximately 185 roles were eliminated.
Source: theinformation.com
Data for Enovix is compiled from public WARN Act filings and reporting linked above. See our methodology.