Recently, many tech giants around the world have begun laying off thousands of their employees as part of cost-cutting efforts. Now a similar decision has come from a company in the automotive industry.

London based electric car company mainly producing light commercial vehicles arrivalannounced that it will reorganize. In this context, while a new CEO was coming to the company, it was announced that 50% of employees around the world would be laid off.

800 employees are laid off to cut costs

The company announced today that its former manager, Igor Torgov, has been appointed CEO. In addition, it was announced that the workforce will be halved. For example, 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 road in the second half of the year, says the move was made to reduce costs. According to Arrival, real estate and third-party spending cuts, 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 cut spending in July 2022. %He announced that he plans to cut it by 30 percent. This situation also affected the employees. Also, the company’s cash fell to $205 million in December 2022. In July, this number was $500 million. So the company has been trying to save money, cut costs and ultimately survive for a long time.

All the tech giants that recently laid off thousands of their employees;

If you are wondering about the reasons for mass layoffs;