Argo AI, the autonomous vehicle technology startup backed by Ford and Volkswagen, has laid off about 150 people and slowed the pace of hiring, making it the latest tech company to reduce its workforce as recession fears grow.
The layoffs account for about 5% of its more than 2,000 global workforce, according to sources familiar with the company’s actions. The layoffs were widespread, affecting talent recruiters, digital media and communications employees as well as members of its operations teams, a review of LinkedIn profiles shows.
Argo confirmed it had issued layoffs and said in an emailed statement, “With incredible growth and progress made in our mission to deploy d …
