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

Redwood Materials cut about 135 jobs, or roughly 10% of its workforce.

The restructuring is meant to sharpen the company’s focus on its fast-growing energy storage business.

Redwood said its battery recycling business remains strong, while it narrows roles across multiple teams.

The move reflects how battery and EV-adjacent companies are shifting toward more durable revenue streams.