All of Canoo’s employees are reportedly on a ‘mandatory unpaid break’

EV startup Canoo recently furloughed dozens of employees without pay and informed the remaining staff of a “mandatory unpaid break” until the end of the year, locking them out of company systems by the end of Friday. The company, facing financial challenges with only $700,000 in the bank last month, announced a reverse stock split and aims to attract more investors. Canoo, founded in 2017, has struggled to sell electric vehicles and has faced executive turnover, raising concerns about its financial viability.

Full Article