EV startup Fisker Inc. is shedding extra workers to “protect money,” one week after warning buyers it must make cuts to stave off impending chapter, in keeping with an inside e-mail considered by For Millionaires.

Founder and CEO Henrik Fisker advised workers Monday morning within the e-mail that the corporate is “persevering with to judge all viable choices for our enterprise, together with a possible transaction, and we’re dedicated to figuring out potential patrons and pathways to infuse capital into the enterprise.”

“That mentioned, we should protect money to assist hold these choices obtainable to us,” he wrote. He beforehand advised workers in a gathering final week that the corporate was nonetheless assembly with automobile firms underneath NDA, which was first reported by Business Insider.

“[I]t is with nice private ache and disappointment that I ship the troublesome information that at this time we’re making additional reductions to our workforce,” Fisker wrote within the e-mail.

It’s unclear what number of workers Fisker Inc. is chopping. A spokesperson didn’t instantly reply to a request for remark. Fisker employed 1,135 folks as of April 19, in keeping with a regulatory submitting. It beforehand introduced cuts of 15% in February.

The corporate introduced final week that it employed a chief restructuring officer who’s now in command of approving Fisker Inc.’s funds, in addition to the decision-making course of for any sale of the enterprise. It reported having simply $54 million in money and equivalents as of April 16.