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EV Startup Arrival Is Laying Off 50% Of Its Staff

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For the second time in just an entire year EV startup Arrival has announced that it will cut its staff.

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The company announced plans on Monday to eliminate approximately 50 per cent of its workers.

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The change will cut around 800  Arrival's employees.

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Around the time of the year, Arrival warned that it was struggling for cash. The company's financial conditions appear to be getting worse.

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By the end of 2022, the company had an inventory of $205 million in cash.

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After its most recent round of layoffs, as well as various other cost-cutting measures, Arrival anticipates that it will cut the costs of day-to-day operations by about $30 million per quarter.

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