11.5 C
London
Monday, September 26, 2022

Ford, VW-backed Argo AI lays off 150 workers, delays hiring – londonbusinessblog.com

Must read

Rihanna headlines Super Bowl 2023 halftime show

Rihanna will headline the halftime show at next year's SuperBowl, the pop singer, her record label, the NFL and new halftime show sponsor Apple...

Conservative capitalists fund their vision of the future • londonbusinessblog.com

Given the political climate and Peter Thiel's political views, it seemed ironic at first that Thiel Capital chose the ideal time to support 28,...

Bill’s Offensive Coordinator takes his anger out on a Microsoft Surface tablet

We may not get an Apple event this year.While Apple was initially expected to hold an event in October to launch its reportedly M2-equipped...

Need a hobby? Learn to draw from a top-rated instructor.

Disclosure: Our goal is to provide products and services that we believe you will find interesting and useful. When you buy them, londonbusinessblog.com...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Argo AI, the autonomous vehicle technology startup backed by Ford and Volkswagen, has laid off about 150 people and slowed its hiring pace, making it the latest tech company to cut its workforce as recession fears mount.

According to sources familiar with the company’s actions, the layoffs account for about 5% of its more than 2,000 employees worldwide. The layoffs were widespread, affecting talent recruiters, digital media and communications professionals, as well as members of operations teams, a survey of LinkedIn profiles shows.

Argo confirmed it had taken layoffs and said in an emailed statement: “With the incredible growth and progress made in our mission to deploy driverless vehicles, we are making tentative adjustments to our business plan to to go on the road to success.”

A source, who remained anonymous as they are not authorized to speak on behalf of the company, told londonbusinessblog.com that Argo hired too quickly and overshot where it should be. The company is still hiring and has dozens of open positions in engineering, legal, technical program management and fleet management.

Based in Pittsburgh, Argo AI launched driverless pilot operations in Miami and Austin in May 2022, making progress in commercializing its technology.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Rihanna headlines Super Bowl 2023 halftime show

Rihanna will headline the halftime show at next year's SuperBowl, the pop singer, her record label, the NFL and new halftime show sponsor Apple...

Conservative capitalists fund their vision of the future • londonbusinessblog.com

Given the political climate and Peter Thiel's political views, it seemed ironic at first that Thiel Capital chose the ideal time to support 28,...

Bill’s Offensive Coordinator takes his anger out on a Microsoft Surface tablet

We may not get an Apple event this year.While Apple was initially expected to hold an event in October to launch its reportedly M2-equipped...

Need a hobby? Learn to draw from a top-rated instructor.

Disclosure: Our goal is to provide products and services that we believe you will find interesting and useful. When you buy them, londonbusinessblog.com...

What grade is Ella Anderson in? Age, Net Worth, Boyfriend, Bio

Who is Ella Anderson? Ella Aiko Anderson was born in Ypsilanti, Michigan, USA, on March 26, 2005 – her zodiac sign is Aries and she...