EV company Arrival to cut workforce by 50% in third restructuring effort

Arrival is going through another restructuring — this time led by a newly appointed CEO — that will slash its workforce by about 50% as the the U.K.-based commercial EV company attempts to reduce operating costs and preserve cash.
The company said Monday that Igor Torgov, former executive VP of digital at the company, has been hired as its CEO. Prior to Arrival, Torgov held a number of CEO, COO and other leadership positions at Atol, Bitfury, Yota, Columbus IT and Microsoft.
The cuts announced Monday would reduce its workforce by 50% to about 800 employees globally. Arrival said the layoffs al

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