Michigan Battery Startup ONE Cuts Jobs as CEO Seeks Fresh Funds
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Our Next Energy Inc., the Michigan battery startup aspiring to become an American cell manufacturer, said it’s cutting about 13% of its workforce as new leadership seeks to streamline operations and raise fresh capital.
ONE, as the startup is known, is cutting about 40 jobs, mostly general and administrative positions, said Paul Humphries, a board member of ONE who took over as Chief Executive Officer in December after a funding round fell through. The company is closing offices in Boston and California to consolidate engineering work in Michigan, where it’s building battery packs at a $1.6 billion manufacturing plant. The startup plans to keep and even grow its research and development team in Fremont, California, Humphries said.