After I announced this week that it EV startup Canoo emailed remaining employees to inform them they would be taking a “mandatory unpaid break” and would be locked out of the company’s systems at the end of the day on Friday. Reports. The email displayed by TechCrunch According to reports, the break will last at least until the end of the year. Canoo announced Wednesday that it is idling its factories in Oklahoma “as it works to complete the raising of the capital necessary to continue its operations.”
Canoo confronted , and the departure of several executives last year. It This fall alone, 30 employees were furloughed. Canoo’s announcement on Wednesday said the company is currently in “advanced discussions with various sources of capital.” In a statement about the cuts, Canoo said: “We regret having to furlough our employees, particularly during the holidays, but we have no other choice at this time. “We are confident we will be able to bring them back to work soon.”
