Thursday, November 1, 2018

Faraday Future’s last founding executive resigns, plans emergency fund for employees

Dag Reckhorn, Faraday Future’s senior vice president of global manufacturing — and the last of the company’s five “founding executives” — resigned Wednesday, according to an internal email obtained by The Verge. The news comes after investor trouble sparked two wild weeks of layoffs and salary cuts that quickly turned into furloughs and executive departures at the EV startup, and a co-founder calling the company “effectively insolvent.” Reckhorn said in his email to staff that he is working to establish an emergency fund for employees affected by the furlough.

“I am heartbroken to have to let you know, that I will leave FF effective today,” Reckhorn wrote in the email, which was sent to the company’s remaining staff. “There are...

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