Fisker Automotive, the struggling hybrid sports car maker, terminated most of its rank-and-file employees at a Friday morning meeting at its Anaheim, California, headquarters, according to a source who attended the meeting.
About 160 employees are affected, the source said.
Fisker will retain about 53 senior managers and executives, the source said, primarily to pursue buyers for the company's assets.
The remaining Fisker executives also are continuing negotiations with the U.S. Department of Energy, the source said. The company hopes to renegotiate a DOE loan payment that is due on April 22.
A call to Fisker's Anaheim office was not answered.
(Reporting by Paul Lienert in Detroit; Editing by Jeffrey Benkoe)