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” 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 on Tuesday when TechCrunch asked for the number of employees it intends to lay off this time.
Arrival has had its hands in everything from developing electric vans and buses to cars for ride-hailing drivers, but it has yet to announce any commercial vehicle launches.
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. to take advantage of Inflation Reduction Act subsidies for commercial vehicle purchases. South Carolina approved Arrival for job development credits in 2022, when the firm announced its York County factory, according to a letter from the state’s Commerce Department. The letter listed conditions for the credits and didn’t say if they were ultimately awarded — nor did it disclose their monetary value.
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. The firm also recently scaled back its North American headquarters in Charlotte, North Carolina.
