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Month: March 2024

Battery startup Our Next Energy lays off another 3 dozen employees

Battery startup Our Next Energy lays off another 3 dozen employees

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Battery startup Our Next Energy Inc. is again trimming headcount following months of struggles.

Crain’s Detroit Business has learned that the Southeast Michigan-based company has cut another 37 jobs — 24 of which were located in Michigan — with the majority of the layoffs being administrative roles, according to a company statement to Crain’s. 

ONE’s current focus is around developing products “that will double the range for electric vehicles and double the energy capacity of conventional utility scale energy storage systems,” the company said in the statement.

“In support of this mission, ONE is reinforcing its commitment to its research & development, engineering, supply chain and manufacturing functions,” the statement continues. “To accomplish this, the company is re-aligning resources and reducing overall operating expenses in its non-product related functions. This decision will enable ONE to operate in a more financially efficient manner and support the company’s ongoing efforts to attract additional strategic and financial investors.” read more

Why don’t some millennials want kids? They say it’s too expensive

Why don’t some millennials want kids? They say it’s too expensive

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By Erin El Issa | NerdWallet

Millennials are a favorite societal punching bag for things like destroying industries — including diamonds and casual chain restaurants — and being cringe. But another gripe some have with Generation Y is that they believe millennials aren’t having enough kids, or any kids at all.

Of millennials who are opting out, many are doing so because raising children is simply too expensive. A new NerdWallet survey finds that just a quarter of parents of minor children (25%) plan to have more children and only 27% of non-parents under age 60 plan to have any children at all. Of millennials (ages 27-42) who aren’t parents, just 25% say they plan to have kids, while 61% don’t and 14% aren’t sure. When millennials who don’t have kids or plan to have kids were asked why, nearly 2 in 5 (38%) said it’s because the overall cost of raising a child is too high.

How much are millennial parents paying for child care?

One major expense parents may have to contend with, at least in the early years, is child care. According to the NerdWallet survey, millennial parents who pay for full-time child care — care at least four days a week — report paying $665.70 a month, on average, per child. Nearly a quarter (23%) are paying $1,000 or more a month, per child. read more