News

Redwood Materials lays off 10% in restructuring to chase energy storage business

Published

3 weeks ago

April 22, 2026

Preport

Redwood Materials has laid off around 135 employees, or roughly 10% of its workforce, as it restructures to better accommodate its growing energy storage business, TechCrunch has learned.

The cuts come just five months after Redwood cut 5% of its workforce, and three months after it closed a $425 million funding round that boosted the battery recycling company’s valuation to north of $6 billion, as TechCrunch previously reported.

It’s been a difficult time in the battery industry lately. Earlier this month, battery recycler Ascend Elements filed for Chapter 11 bankruptcy protection, citing “insurmountable” financial challenges. Some battery-makers have also restructured or gone out of business as the automotive industry in the U.S. has backed away from its most optimistic and ambitious plans to transition to electric vehicles.

But Redwood Materials founder and CEO JB Straubel told employees that this new round of cuts is not a sign that the company is heading down the same path.

“Redwood today is the strongest it’s ever been,” Straubel wrote in an email to the workers who weren’t laid off, according to a copy viewed by TechCrunch. “The materials business is well on its way to profitability and has an exciting roadmap ahead.”

Straubel noted that Redwood “continue[s] to dominate the US battery recycling market” but also touted the company’s “great momentum” in its new energy storage business. Redwood has recently announced deals with Crusoe AI and, most recently, electric automaker Rivian to provide recycled batteries that can be used to power those companies’ facilities. The company declined to comment beyond the contents of Straubel’s email.

In his message, Straubel wrote that “parts of the company have expanded faster than needed to support the direction” of Redwood. As a result, he said Redwood is making cuts across multiple divisions, including the engineering and operations organizations, according to an employee who was granted anonymity to discuss the layoffs.

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“We are confident that we can deliver on our critical projects with a smaller team that is more focused,” he wrote. “We have successfully adapted to changes in the market that have bankrupted many of our competitors.”

Straubel went on to write that he is “more excited than ever with our path ahead as we build the most integrated and cost-effective critical materials and energy storage business in the world.”

“This is a self-sustaining business and will continue to make this company more valuable over time. We have the team and the technology to do what no other company can,” he wrote.

Workers who were laid off were told by Redwood’s chief HR officer that the layoffs were made “to sharpen our focus, our work and the size of our teams to support the direction Redwood is going in the future,” according to a copy of her email, which was viewed by TechCrunch.

Employees who were laid off are receiving severance and paid health benefits, according to Straubel’s email, as well as “career transition assistance.”

“I am grateful to the approximately 135 employees who we say goodbye to today — they’ve all contributed to building Redwood,” he wrote.

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News

Police arrest suspect for allegedly attempting to steal N5m vehicle in Bauchi

Published

18 minutes ago

May 15, 2026

Preport

The Bauchi State Police Command has arrested a man identified as Bala Yusuf, a native of Dutse Local Government Area of Jigawa State, for allegedly attempting to kill a driver and steal his vehicle.

This was contained in a statement issued on Thursday by the spokesperson of the Bauchi State Police Command, SP Nafiu Habib.

According to the statement, the suspect hired the driver to transport him from Abuja to Jos. Upon arriving in Jos, the suspect allegedly persuaded the driver to continue the journey to Bauchi under the pretext of visiting his family.

The statement said that after reaching Bauchi, the suspect allegedly laced the driver’s food with sleeping pills and attempted to flee with the vehicle, which was valued at about N5 million.

“The suspect was apprehended in possession of the vehicle, while the victim was immediately rushed to the Abubakar Tafawa Balewa University Teaching Hospital, Bauchi, for medical attention,” the statement added.

The command further stated that investigation is ongoing to ascertain the full circumstances surrounding the incident before the suspect is charged to court.

Featured

“I will do even better than what I have done” — Gagdi Tells Constituents in Ward Visits

Published

38 minutes ago

May 15, 2026

Preport

The member representing Pankshin Kanam Kanke constituency, Yusuf Adamu Gagdi, has said his achievements in office should be the primary basis for judging his leadership, declaring that his record of service speaks for itself as he embarked on his ward-to-ward consultations across his constituency ahead of the APC primary election.

Gagdi made the remark during his recent visits to federal wards, in Pankshin, Kanam and Kanke LGAs, where he met with party members, traditional leaders, and constituents.

Addressing stakeholders in the various wards, the lawmaker said he prefers to rely on his track record rather than make fresh promises, insisting that residents have already seen the impact of his representation.

“My record speaks for me. The people have seen what I have done already. If given another opportunity, I will do even better than what I have done in the last seven years,” he said.

He cited ongoing and completed projects across the constituency, including the modern primary healthcare centre in Gyangyan and community hall projects in several wards, as evidence of his commitment to development.

Gagdi who is the Chairman of the House Committee on Navy, also stressed that leadership must remain rooted in the grassroots, explaining that his consultations were designed to keep him connected to the people who elected him into office.

“This visitation is not even about campaigning. It is about keeping in touch with the people who voted me into office. I do not want to feel too big to relate with the people the way I have always done,” he added.

He urged constituents to reject divisive politics and instead prioritize performance, capacity, and tangible contributions to community development when choosing leaders.

According to him, his interventions have also included educational support programmes, empowerment initiatives, and payment of WAEC, NECO, and JAMB fees for students across the constituency.

Gagdi further assured residents of continued development support in communities such as Dawaki, Nemel, and Kabwir, including planned community hall projects where land has already been secured.

He also pledged neutrality in future local government chairmanship contests, while reaffirming his commitment to peace, unity, and progress in the constituency.

Party leaders across the visited wards commended his developmental efforts and expressed support for his continued representation, calling for unity within the APC ahead of the 2027 elections.

The ward-to-ward consultations, according to him, are part of efforts to strengthen grassroots trust, consolidate support, and maintain close contact with constituents ahead of the party’s primary election.