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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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