Cash-strapped Faraday Future confirms firings, 20% wage cuts
Cash-strapped Faraday Future has confirmed that the electric car startup is cutting its employees' salaries by 20% and firing some others. The startup's CEO Jia Yueting will reduce his annual salary to $1, Faraday Future explained in an email. It comes after the electric carmaker was accused of trying to back out of a $2-billion deal with China's Evergrande Health. 