The company’s founders said it grew too rapidly in the past year thanks to an abundance of Capital and a growing sense of purpose of competition. But Nuro It has been hit with economic headwinds, which are threatening the entire tech industry and preventing it from sustaining its size. of its workforce. Latest piece: Layoffs of The AV industry just received bad news of its Argo AI, another prominent name, was shut down in recent week.

“Laying off team members is always the last resort, but unfortunately it was needed after other options were exhausted.”

“Laying off team members is always the last resort, but unfortunately it was needed after other options were exhausted,” Jiajun Zhu and Dave Ferguson were co-founders. “This result is on us; we doubled the size of our team in less than two years and significantly increased our operating expenses, assuming the funding environment would remain strong. This was a mistake.”

Nuro That laid-off employees would receive a severance package that includes 12 weeks’ pay (or up to 14 weeks for employees with two or more years of Service) and additional benefits. It also highlighted recent partnerships like its Deal with Uber Eats is a sign that the company’s strength remains. The company has a strong business. “over a billion dollars” on its Balance sheet, wrote the founders.

“The two of us have been working in this industry for about two decades now, and we are more convinced than ever that Nuro is on the right path to commercialize autonomous vehicles at scale,” Ferguson and Zhu wrote. “Despite the macroeconomic headwinds, Nuro has hit the major milestones we planned for this year and our pace of progress is accelerating.”