The driverless startup backed by Ford Motor Co and Volkswagen has laid off about 150 workers after “ramping up too quickly and finding itself overstaffed”.
Argo AI has confirmed the layoffs from a global workforce that has grown to more than 2,000.
“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,” the company said in an emailed statement.
In May, Argo began testing self-driving vehicles in Miami and Austin, Texas, without a human behind the wheel. It also is testing its autonomous system with the public in pilot programs with Lyft Inc and Walmart Inc in Miami, Austin and Washington, D.C.
Argo said its plans to commercialise the technology for Ford and VW remain on track.
(Picture – Argo)