British electric vehicle maker Arrival has said it’s considering cutting 30% of roles in a proposed “business reorganisation” that could see up to 800 jobs axed.
Arrival said it is in response to the “challenging economic environment” and remains on course for the production of its electric van later this year.
The company also said it would allow it to meet “business priorities until late 2023” using the $500m (£422.2m) cash on hand it has.
This comes weeks after Arrival hired a new chief human resources officer, Mandeep Bajwa.
In the proposal, Arrival stated that it would reduce spending by 30%. Arrival also attributed the measures to supply chain issues, the ongoing pandemic, geopolitical tensions and inflation.
UKTN has contacted Arrival asking which departments it’s considering cutting jobs.
Arrival is an electric vehicle manufacturer that plans to build vans, buses and cars built by localised micro-factories where vehicles are built using cell-based robotic assembly.
Its van and bus concepts were recently awarded EU certification. The company is headquartered in London and has an R&D facility in Banbury, Oxfordshire.
Customers of Arrival include delivery service UPS, which ordered 10,000 of its electric vans and is working with ride call app Uber on an electric car.
Arrival was listed last year on the Nasdaq with a valuation of $13bn.