The driverless-automobile engineering company Argo AI laid off about 150 staff this 7 days, a reversal following yrs of rapid-paced selecting.
The layoffs arrive to about 6% of the company’s a lot more than 2,000-person workforce, in accordance to a business spokesperson and noted by The Wall Road Journal.
The Pittsburgh-based mostly startup reported it is getting this phase to get its staffing ranges back again in line to hit operational targets.
“With unbelievable growth and development made in our mission to deploy driverless motor vehicles, we are producing prudent adjustments to our enterprise program to best keep on on a route for achievements,” Argo stated in a assertion.
FORD AND VW-BACKED ARGO AI LAUNCHES Absolutely DRIVERLESS Motor vehicle Assistance IN MIAMI AND AUSTIN
The enterprise, launched in 2016, has big automakers as investors.
Ford in the beginning invested $1 billion in Argo in 2017. Volkswagen AG invested $2.6 billion.
Very last calendar year, Walmart worked with Argo and Ford to exam an autonomous car or truck shipping services in three U.S. cities.
WALMART LAUNCHING SELF-DRIVING Supply Assistance WITH FORD AND ARGO AI
The organization launched entirely driverless experience-hailing solutions in Austin and Miami before this 12 months.
Argo AI tested the assistance with human security drivers driving the wheel and features it via Lyft.
The firm options to set up 1,000 autonomous vehicles on that network in the upcoming handful of several years.
LYFT TO Create A HYBRID Product OF DRIVER, AUTONOMOUS Cars
The enterprise has brought on board expertise from tech organizations this sort of as Apple and Uber Systems.