While Uber employees in the US heard on Monday about the second major round of job cuts at the company, those in Europe are still waiting. Because of the complexities of government regulation around pandemic-related permanent layoffs, Uber was not able to tell all impacted employees about the cuts on Monday, the company said in… Continue reading As Uber cuts 25% of its global workforce, many European employees still don’t know ‘if we’ll be fired or not’ (UBER)
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‘I am truly sorry’: Read the full email Uber’s CEO sent employees after laying off 25% of the company’s staff in 2 weeks (UBER)
Uber on Monday confirmed Business Insider’s reporting that it planned to lay off 3,000 more workers in addition to its previous round of 3,700 job cuts earlier this month. Together, the layoffs represent about a quarter of the company’s entire global workforce, which stood at 28,600 at the end of March. In an email to… Continue reading ‘I am truly sorry’: Read the full email Uber’s CEO sent employees after laying off 25% of the company’s staff in 2 weeks (UBER)
Uber confirms it will lay off thousands more employees and close 40 offices to further cut costs (UBER)
Uber on Monday confirmed that it would cut 3,000 more jobs while closing dozens of offices and scaling back money-losing bets to slow steep revenue losses incurred because of the coronavirus pandemic. The announcement by CEO Dara Khosrowshahi follows a Business Insider report over the weekend by Julie Bort that more layoffs were imminent. Coupled… Continue reading Uber confirms it will lay off thousands more employees and close 40 offices to further cut costs (UBER)
Waymo expands first external investment round to $3 billion
Waymo has added an additional $750 million to the $2.25 billion funding round that it first announced in March, bringing the total size of the financing (its first from investors outside of Alphabet) to $3 billion. The extension comes from new investors, including those managed by T. Rowe Price, Perry Creek Capital, Fidelity Management and… Continue reading Waymo expands first external investment round to $3 billion
Tesla (TSLA) rises on officially being allowed to restart production
Tesla’s stock (TSLA) is gaining today after the company confirmed that it is officially allowed to restart production at its Fremont factory with local county approval. Last week, Tesla called employees back to work at the Fremont factory despite still being in discussions with Alameda County over its plan to safely reopen the factory. As… Continue reading Tesla (TSLA) rises on officially being allowed to restart production
Tesla and Panasonic are making money at Gigafactory 1, in talks to expand battery production
The relationship between Tesla and Panasonic has been deteriorating the past few years, but they are apparently back to making money — boosting the relationship and even resulting in talks to expand battery production at Gigafactory Nevada. The growth of Gigafactory 1 in Nevada has been impressive, and the factory quickly became the largest li-ion… Continue reading Tesla and Panasonic are making money at Gigafactory 1, in talks to expand battery production
Groupe PSA sets social distancing and hygiene guidelines for dealers
Groupe PSA has created a new set of social distancing and hygiene guidelines for its retail network. These include demonstration videos, ensuring showrooms are ready to open safely to the public as soon as the Government lockdown restrictions lift. Since April, Groupe PSA retailers have been accommodating safe home deliveries, conducted in accordance with official… Continue reading Groupe PSA sets social distancing and hygiene guidelines for dealers
FCA has to strengthen investments in Italy to seek state-backed loan: Economy Minister
FILE PHOTO: Italy’s Minister of Finance Roberto Gualtieri attends a one day Italo-Franco summit in Naples, Italy February 27, 2020. REUTERS/Ciro De Luca/File Photo ROME (Reuters) – Italy’s Economy Minister Roberto Gualtieri on Monday said Fiat Chrysler [FCHA.MI] has to strengthen investments in Italy and avoid delocalizing its factories outside the national borders to apply… Continue reading FCA has to strengthen investments in Italy to seek state-backed loan: Economy Minister
AMPLY Power secures $13-million in funding for Charging-as-a-Service fleet products
Fleet charging solutions provider AMPLY Power has secured $13.2 million in Series A funding from investors including Soros Fund Management and Siemens, as well as existing seed round investors, including Congruent Ventures, PeopleFund and Obvious Ventures. AMPLY Power’s comprehensive Charging-as-a-Service offering for fleet operators ensures each electric truck or bus is charged and ready for… Continue reading AMPLY Power secures $13-million in funding for Charging-as-a-Service fleet products
Mahindra Electric resumes plant operations; expects normalcy soon
The company claims that since it produces all its components on its own, it hardly sees any supply chain issues when compared to its parent company Mahindra & Mahindra. NEW DELHI: Home-grown electric vehicle and component maker Mahindra Electric on Monday resumed its operations. The company will utilize the 30 per cent capacity and gradually… Continue reading Mahindra Electric resumes plant operations; expects normalcy soon