UK-based electric vehicle manufacturer Arrival has also been added to the list of companies that fired their employees en masse. The company, which mainly produces commercial vehicles, announced that it will lay off half of its employees worldwide.
Recently, many tech giants around the world have begun laying off thousands of their employees as part of efforts to cut costs. Now a similar decision has come from a company in the automobile industry.
London-based electric car company that mainly produces light commercial vehicles arrivalannounced that it is going to restructure. In this context, while a new CEO was coming to the company, it was announced that 50% of the employees all over the world would be fired.
800 employees to be fired to cut costs
The company announced today that its former manager, Igor Torgov, has been appointed as CEO. In addition, it was stated that the workforce will be reduced by half. In this way, Arrival has 1600 employees worldwide. it will drop to 800 seen.
The company, which is known for its electric commercial vehicles and plans to put its electric buses on the roads in the second half of the year, states that this move was made to reduce costs. According to Arrival, cuts in real estate and third-party spending, along with the layoffs, will increase costs this quarter. 30 million dollars It will help you fall.
This is what Arrival has been doing since July to survive third move. The company, which went public in 2021, will reduce its expenditures in July 2022. %He announced that he plans to reduce it by 30 percent. This situation also affected the employees. Also, in December 2022, the company’s cash decreased to $205 million. In July, this number was 500 million dollars. So the company has been trying to save cash, cut expenses, and ultimately survive for a long time.
All the technology giants that have recently laid off thousands of their employees;
Hundreds of Thousands of Employees in Technology Companies Are Being Fired! Here are all the companies that took the decision of mass layoffs
If you are wondering about the reasons for mass layoffs;
Mass Resignation Over, Mass Fires Begin: Why Are Tech Giants Laying Tens of Thousands of People?