Sweden's Northvolt cuts 1,600 jobs amid EV slowdown [Fortune]
PJT Partners Inc. Class A (PJT)
Last pjt partners inc. class a earnings: 4/28 06:50 am
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Source: Fortune
The company, which has struggled in its mission to stand up a home-grown supply of electric-vehicle batteries in Europe, said it will reduce its Swedish workforce by 1,600 positions as part of a strategic review that was announced this month. The money-saving move comes as Northvolt continues to negotiate a new financing pact with its creditors and investors. The company in January reached agreement on a $5 billion green loan facility, taking its overall debt and equity commitments to more than $13 billion. Lenders have selected investment bank PJT Partners to help advise on options , Bloomberg News reported last week. The manufacturer's rapidly mounting challenges have placed at risk Europe's ambition to build an EV battery-making champion. The company, which earlier this year was contemplating an initial public offering, has come under increasing strain as a production ramp-up faltered, EV demand slowed and battery-cell competition from China intensified. Northvolt has also f
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PJT
News
- Northvolt Hires Advisory Firm Teneo to Tackle Cash Crunch [BNN Bloomberg (Canada)]BNN Bloomberg
- Sweden's Northvolt to Cut 20% of Staff Amid Liquidity Crunch [Yahoo! Finance]Yahoo! Finance
- PJT Partners Inc. (PJT) Hit a 52 Week High, Can the Run Continue? [Yahoo! Finance]Yahoo! Finance
- Northvolt Lenders Line Up PJT for Advice as Cash Crunch Deepens [Financial Post (Toronto, Ontario, Canada)]Financial Post
- PJT Partners Enters into Agreement to Acquire deNovo PartnersBusiness Wire
PJT
Earnings
- 7/30/24 - Beat
PJT
Sec Filings
- 9/20/24 - Form 4
- 9/20/24 - Form 4
- 9/20/24 - Form 4
- PJT's page on the SEC website