Asia Tech Wire (Sep 25) -- The labor union at Northvolt said Wednesday that the Swedish battery maker may increase the number of layoffs from its current plan to cut 1,600 jobs as the company struggles to cope with financing difficulties.

Northvolt on Monday announced plans to lay off 1,600 people at its Swedish site, about one-fifth of the company's global workforce.

Northvolt's Skelleftea plant will face the biggest hit, with a cut of 1,000 employees.

The company is also cutting back on other expansion plans, shifting its focus to capacity increases at its Skelleftea plant.