After announcing in December that it no longer planned to build electric vehicles at BlueOval City in Stanton, BlueOval SK today announced it would be laying off 150 employees.
The 150 employees will receive their regular pay and benefits for the next 60 days.
BlueOval SK spokesperson Keli McAlister issued the following statement:
As BlueOval SK works toward the completion of the dissolution of the joint-venture agreement and the formation of a new stand-alone company in Stanton owned and operated by SK On, BlueOval SK has taken the difficult step to adjust our workforce.
Faced with changing market conditions, we are taking action now to ensure long-term success.
Approximately 150 positions are being reduced. Each team member will receive their regular pay and benefits for the next 60 days. A core group of highly skilled team members will be retained to assist with winding down BOSK operations and building the new, solely owned SK On company.
We are committed to supporting our team through this transition and to building a new SK On company and a strong future in West Tennessee.