Peoria's Natural Fiber Welding is laying off more employees as the start-up continues to struggle with "significant challenges."
A spokesperson confirmed the company restructured this month, but didn't disclose the number of employees impacted. The Peoria Journal Star says 91 employees were laid off, citing internal company documents.
The company currently employs around 100 people. The company rolled out furloughs last month. Founder and former CEO Luke Haverhals also left NFW, as well. The company also laid off employees in 2023.
The NFW spokesperson said the company has now successfully closed out a funding round, after struggling to secure a financial lifeline over the past several months.
"Under the guidance of our new CEO, Steve Zika, and with our board of directors, a reshaped NFW will move forward as a leaner, more focused organization," said the spokesperson.
NFW produces plant-based alternatives to plastics. The company has partnered with major corporations like Ralph Lauren and BMW. The Peoria company was a finalist for Prince William's Earthshot Prize last fall.
