Arrival said Monday that it will cut its global workforce in half, to about 800 employees, as it implements a restructuring aimed at cutting spending by...
Arrival ARVL said Monday that it will cut its global workforce in half, to about 800 employees, as it implements a restructuring aimed at cutting spending by about 50% to preserve cash. The stock was halted for news, until 9:00 a.m. Eastern. The Luxembourg-based electric vehicle maker also named Igor Torgov, a former Arrival executive vice president of its digital business, as chief executive officer, to effect the restructuring.
The Luxembourg-based electric vehicle maker also named Igor Torgov, a former Arrival executive vice president of its digital business, as chief executive officer, to effect the restructuring. The company also appointed financial advisor Teneo to evaluate strategic initiatives.
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