Ford, VW-backed startup Argo AI bids goodbye to 150 employees

San Francisco: As recession fears grow, the US-based autonomous vehicle technology startup Agro AI, 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.
According to TechCrunch, the layoffs account for about 5 per cent of its more than 2,000 global workforces, according to sources familiar with the company’s actions.
The layoffs were widespread, affecting talent recruiters, digital media and communications employees as well as members of its operations teams, a review of LinkedIn profiles shows, the report said.
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A close source, who remained anonymous because they are not authorised to speak on behalf of the company, told TechCrunch that Argo AI had hired too quickly, overshooting where it should be.
The company is still hiring and has dozens of engineering, legal, technical programme management and fleet operations positions open, the report said.