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Autonomous delivery vehicle startup Nuro layoffs about 300 employees

The autonomous delivery startup, Nuro, is laying off 20% of its employees (about 300) staff. The company had raised $600 million at a valuation of $8.6 billion in the year of 2021, investors including Alphabet Inc’s Google, Tiger Global Management and Softbank Group Corp.

The founders of the company said it grew too rapidly in the past year. But Nuro has since run into economic headwinds in 2022, making it usable to sustain its workforce. The layoffs will hit the AI industry (Argo AI has been shut down recently.)

All laid-off employees would receive 12 weeks’ pay or 14 weeks pay for employees who worked two or more years as well as additional benefits.

By March 2022, technology companies accounted for nearly 30% of the total market capitalization of the S&P 500. However, as the stock market plunge and inflation set in, major companies have exploded with dismal earnings results. Since the second half of this year, the wave of layoffs at U.S. tech giants has intensified.

As Nov.18 2022: 836 tech companies layoffs and 134739 employees laid off

Part of 2022 layoffs list:

Coinbase layoffs:Laying off 18% of its workforce.
Compass layoffs: Laying off 10% of its employees.
Redfin layoffs: Laying off 8% of its employees.
Carvana layoffs: laying off 2,500 employees.
Netflix ayoffs: has laid off 150(about 2%) workers
SoundCloud layoffs: laying off 20% employees .
Amazon layoffs: 1% of workforce laid off beginning (November 2022)
Meta layoffs: 13% of workforce laid off (November, 2022)
Twitter layoffs: 50% of workforce laid off (November, 2022)
Zillow layoffs: 5% of workforce laid off (October, 2022)
Peloton layoffs: 12% of workforce laid off (October, 2022)
DocuSign layoffs: 9% of workforce laid off (September, 2022)
Taboola layoffs: 6% of workforce laid off (September, 2022)
Snapchat layoffs: 20% of workforce laid off (September, 2022)
Outbrain layoffs: 3% of workforce laid off (July, 2022)
Lyft layoffs: 2% of workforce laid off (July, 2022)
The Mom Project layoffs: 15% of workforce laid off (July, 2022)
Opensea layoffs: 20% of workforce laid off (July, 2022)
Substack layoffs: 14% of workforce laid off (June, 2022)
Ninantic layoffs: 8% of workforce laid off (June, 2022)
MasterClass layoffs: 20% of workforce laid off (June, 2022)
Bird layoffs: 23% of workforce laid off (June, 2022)
Superhuman layoffs: 22% of workforce laid off (June, 2022)
Cameo layoffs: 25% of workforce laid off (May, 2022)
Robinhood layoffs: 9% of workforce laid off (April, 2022)
Virgin Hyperloop layoffs: 50% of workforce laid off (February, 2022)
Peloton layoffs: 20% of workforce laid off (February, 2022)
Beachbody layoffs: 10% of workforce laid off (January, 2022)

Published inBreaking News

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