Redwood Materials has laid off around 135 employees, or roughly 10% of its workforce, as it restructures to better accommodate its growing energy storage business, TechCrunch has learned. The cuts come just five months after Redwood cut 5% of its workforce , and three months after it closed a $425 million funding round that boosted the battery recycling company’s valuation to north of $6 billion, as TechCrunch previously reported . It’s been a difficult time in the battery industry lately.