Friday, 24 March, 2023

Ford backed Argo AI startup lays off 150 employees

<p>Ford and Volkswagen jointly invested in the autonomous vehicle firm Argo AI, which recently let go of roughly 150 staff members. The action is intended to counteract a period of fast expansion during which the business hired more staff than was necessary. Of the 2,000 employees at the Pittsburgh-based company, the layoffs represent around 6% of the workforce. Ford invested $1 billion in the business in 2017, while Volkswagen invested $2.6 billion in the following year.</p>