Argo AI Layoffs
July 2022
Argo AI announced a layoff affecting 150 employees (5% of its workforce) in July 2022. The company operates in the Transportation sector.
150
5%
Jul 7, 2022
About
In July 2022, Argo AI, an autonomous vehicle startup backed by Ford and Volkswagen, laid off approximately 150 employees, representing about 5% of its global workforce of over 2,000. The company cited a need for prudent adjustments to its business plan amid growing recession fears, acknowledging it had hired too quickly and overshot its targets. The layoffs affected various departments, including recruiting, digital media, communications, and operations. Despite the cuts, Argo AI continued hiring for engineering and technical roles while progressing with driverless testing in Miami and Austin as part of its commercialization efforts.
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