Electric vehicle startup Canoo is implementing mandatory unpaid leave for its remaining employees until the end of the year, according to an internal email reported by TechCrunch. Employees will be locked out of Canoo's systems after finishing work on Friday. This decision follows Canoo's announcement of laying off nearly 100 employees and temporarily halting operations due to financial difficulties, leading to the closure of its assembly plant in Oklahoma.
The exact number of remaining employees has not been disclosed, and neither the company nor CEO Tony Aquila has responded to media inquiries. Canoo's challenges this year include closing its Los Angeles office, frequent turnover in executive positions, and a dwindling bank balance of just $700,000. These developments highlight the company's severe financial crisis.
