Ampla, a Lender to Consumer Brands, Faces Financial Struggles
Ampla, which lent money to smaller businesses that sold clothing, home furnishings and other items directly to consumers, is struggling financially and seeking a buyer.
Ampla, which lent money to smaller businesses that sold clothing, home furnishings and other items directly to consumers, is struggling financially and seeking a buyer.
The automaker led by Elon Musk is no longer planning to take the lead in expanding the number of places to fuel electric vehicles. It’s not clear how quickly other companies will fill the gap.
The carmaker dismissed 500 employees in a unit that was critical to its success and seen as important to the future of electric vehicle sales in the United States.
The company had expanded quickly to keep ahead of rivals, but like other pandemic darlings, its business lost steam after lockdowns were eased.
The first-quarter results are likely to fuel worries that competitors will continue grabbing a bigger slice of a market dealing with slowing electric car sales.
The dismissals escalated longstanding tensions between company leaders and activist employees opposed to supplying technology to Israel’s government.
The company’s directors are asking shareholders to again approve the multibillion-dollar compensation plan and to move the company’s registration to Texas, from Delaware.
Along with the departure of two senior executives, the cuts added to signs of turmoil at the electric car company.
Problems have plagued the manufacturer even after two fatal crashes, and many current and former employees blame its focus on making planes more quickly.
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