Arrival Layoffs
January 2023
Arrival announced a layoff affecting 800 employees (50% of its workforce) in January 2023. The company operates in the Transportation sector.
800
50%
Jan 30, 2023
About
In January 2023, UK-based electric vehicle manufacturer Arrival announced a major restructuring, cutting its workforce by 50% as part of its third such effort since July 2022. This reduction left the company with approximately 800 employees globally. The layoffs, led by newly appointed CEO Igor Torgov, aimed to slash operating costs by $30 million per quarter and preserve cash, as the company's reserves had dwindled from $500 million to $205 million by the end of 2022. Arrival, which went public via a SPAC in 2021, was shifting its focus to the U.S. market while grappling with the challenges of scaling its microfactory production model for commercial EVs.
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