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Fisker Automotive, the struggling government-backed hybrid sports car maker, terminates 75% of its staff in what sources said was a last-ditch effort to conserve cash and
stave off a potential bankruptcy filing
. The company, which raised $1.2B from investors and tapped nearly $200M in government loans, has only around $30M in cash remaining. About 160 workers were fired at a Friday morning meeting at its Anaheim, Calif., headquarters, and were told that the company couldn't afford to give them severance payments.
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Apr 8, 2013. 06:20 AM
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