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Ford Motor Co (NYSE: F) backed Argo AI laid off 150 workers this week to correct the aggressive hiring done by the driverless-car technology start-up

Ford-backed startup Argo lays off 150 workers

The layoffs account for about 6% of the company’s total workforce

By Shubhangi Mathur
Published - Jul 09, 2022, 12:38 AM ET
Last Updated - Mar 11, 2024, 03:28 PM EDT

• The layoffs account for about 6% of the company’s total workforce

Ford Motor Co (NYSE: F) backed Argo AI laid off 150 workers this week to correct the aggressive hiring done by the driverless-car technology start-up.

“With incredible growth and progress made in our mission to deploy driverless vehicles, we are making prudent adjustments to our business plan to best continue on a path for success,” Argo said in a statement.

The layoffs account for about 6% of the company’s total workforce.

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