Autonomous supply startup Nuro to put off 30% of workforce

Autonomous supply robotic startup Nuro will lay off 30%, or about 340 workers, throughout the corporate as a part of a restructuring meant to increase its capital runway, based on the corporate.

Earlier this week, Nuro co-founders Dave Ferguson and Jiajun Zhu explained in a blog post that the corporate would lower employees and shift assets away from business operations and towards R&D. Nuro will pause plans to ramp up business operations this yr and delay quantity manufacturing of its Nuro bot — the third-generation, or R3, supply robotic designed to be the flagship of its business technique. Nuro will have the ability to function twice as lengthy by making these modifications, giving it sufficient capital to function one other three years with out elevating more cash, based on Ferguson and Zhu.

That is the second time in lower than a yr that Nuro — a darling of the AV world that has raised $2.13 billion — has laid off workers in a bid to chop prices and prolong capital runway. In November, Nuro laid off about 300 people, or 20%, of its workforce.

Laid off workers will obtain 12 weeks of severance, plus two further weeks for workers with two or extra years of tenure. Eligible workers may also obtain 62.5% of goal bonus (prorated for brand spanking new hires) or cost of spring bonus quantities for workers on a biannual efficiency bonus. The corporate may also present healthcare via September 30 and help to workers who maintain visas.