Self-driving startup Argo AI lays off about 150 employees
Reuters
Published Jul 07, 2022 08:17PM ET
(Reuters) - Self-driving startup Argo AI said on Thursday it had laid off about 150 employees as it makes adjustments to its business plans.
The company, backed by Ford Motor (NYSE:F) Co and Volkswagen AG (OTC:VWAGY), said "with incredible growth and progress made in our mission to deploy driverless vehicles, we are making prudent adjustments to our business plan to best continue on a path for success."
After the job cuts, it will still have a global workforce of more than 2,000 employees, the company said. The cuts were reported earlier by Automotive News.
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Written By: Reuters
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