REE to halve its workforce in order to remain solvent
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By Bradley Osborne - 23rd June 2025
Israel – REE Automotive Ltd, an electric vehicle platform manufacturer based in Herzliya, Israel, has announced that it will reduce its workforce by approximately 50% and shift its focus to technology licensing in order to remain solvent over the next twelve months.
The company says it has initiated cost cutting measures to decrease its expenses by approximately 55% to an average of USD2.7m per month, with the aim of maintaining the business as a going concern beyond the next twelve months. This will mean reducing the company’s workforce by half in America and Britain as well as in Israel.
