Leaked memo: Electric-truck startup Xos makes its fourth round of layoffs in two months a year after its $2 billion SPAC deal

Xos Trucks, an electric-vehicle startup whose customers include FedEx and UPS, laid off around 36 to 40 employees this week, according to five sources with direct knowledge of the cuts.

Xos underwent three waves of layoffs earlier this summer, and insiders estimate that, altogether, the company has cut roughly 15% of its 300 to 400 employees in the past two months.

An Xos spokesperson did not respond to Insider's request for comment by the time of pu

*Source: https://www.businessinsider.com/electric-vehicle-startup-xos-trucks-layoffs-cash-crunch-2022-8?IR=T