Redwood Materials reportedly cuts 5% of staff after $350M raise
Fresh off a $350 million raise, battery recycler and cathode-maker Redwood Materials is reportedly cutting around 5% of its workforce, according to Bloomberg News. Nevada-based Redwood employees around 1,200 employees, so the cuts affect a few dozen workers. The company, founded in 2017 by former Tesla CTO JB Straubel, initially focused on recycling scrap from…