About 150 employees at BlueOval SK in Stanton, Tennessee are being laid off, the company confirmed Friday.
The layoffs are the result of the joint-venture partnership ending between Ford Motor Company and Korean battery maker SK On.
A spokesperson for BlueOval SK provided 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.”
This announcement is not really a surprise since the Korean company announced it was ending its battery partnership with Ford several months ago.
One of the big questions is whether Tennessee can “clawback” the taxpayer funding contributed to the project. It was a bipartisan boondoggle.
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