For the second time in less than a year, electric transport startup Arrival is cutting staff. The company announced Monday plans to lay off approximately 50 percent of its workforce. The move will reduce Arrival’s headcount to about 800 employees. In the middle of last year, Arrival warned it was strapped for cash, and the company’s financial position appears to have become more dire since.As of the end of 2022, Arrival had $205 million cash on hand. Following its latest round of layoffs and a handful of other cost-cutting measures, Arrival says it expects to reduce the cost of day-to-day operations to about $30 million per quarter. Critically, Arrival’s plan to focus on the US market – and take advantage of Inflation Reduction Act incentives – is contingent on it raising more money from investors. Provided it can secure additional funding, Arrival expects to start Van production in Charlotte in 2024.On Monday, Arrival also announced a leadership change. Less than three months af
