TechCrunch
Ford, VW-backed Argo AI lays off 150 workers, slows hiring
Argo AI, the autonomous vehicle technology startup backed by Ford and Volkswagen, has laid off about 150 people and slowed the pace of hiring, making it the latest tech company to reduce its workforce as recession fears grow. Argo confirmed it had issued layoffs and said in an emailed statement, “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.” One source, who remained anonymous because they are not authorized to speak on behalf of the company, told TechCrunch that Argo had hired too quickly, overshooting where it should be.
Source: https://finance.yahoo.com/news/musk-arrives-sun-valley-retreat-011803632.html