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Arrival just warned investors that it’s slashing its workforce yet again.
The electric van maker said on Tuesday that it “took actions” on October 5 to “further reduce its operating costs.” Those actions include letting go of “up to approximately 25%” of its workers, the company stated in a letter to investors.
Arrival last announced layoffs in January, when it said it would cut its workforce by 50% to around 800 employees. The firm didn’t immediately respond when TechCrunch asked for the number of employees it intends to lay off this time.
Arrival has had its hands in everything from developing commercial vans and buses to cars for ride-hailing drivers. The company went public in 2021 by merging with a special purpose acquisition company (SPAC). It’s since restructured several times and pivoted its focus from the U.K. market to the U.S.
Arrival’s current status is a bit of an open question; the company hasn’t shared a quarterly update since publishing its first-quarter results in the middle of May.
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