Arrival, a wannabe manufacturer of all-electric commercial transports, has announced cutting its staff by half as a last-ditch effort to minimize costs and prevent bankruptcy.
This means that out of 1,600 people currently employed in the project, only around 800 will remain. It is not specified which departments will be affected to what extent. Another question hanging in the air is just how the budding automaker expects to continue operation with half of its human resources gone.
As if all of the above weren’t bad enough, Nasdaq issued a warning to Arrival that it would be delisted from the exchange unless its shares rise above 1 USD soon.
Right now, the issue-ridden startup is directing all its efforts into producing the first mass market car – an electric van for urban transportation of goods and passengers. You can find it in the gallery and the video below.