Canoo is Watch Sisters Seduction Onlinehaving a very unmerry Christmas. Remaining employees of the beleaguered U.S. electric vehicle startup have been placed on a "mandatory unpaid break" according to TechCrunch, with no view to return for a few weeks at minimum.
While it isn't uncommon for businesses to close around the end of the year, Canoo's decision to put staff on break from Monday is unlikely to be driven by holiday cheer. The company has been plagued by financial problems and furloughs, resorting to borrowing millions from CEO Tony Aquila's private equity firm AFV Management Advisors in order to stay afloat.
SEE ALSO: Canoo unveils electric pickup truck that's way smaller than the Tesla CybertruckAccording to EV, staff were notified of the mandatory break via email last Friday, and told they would receive further updates to their personal email addresses in the first week of January. Employees' access to Canoo's system was apparently suspended by close of business the same day.
"We apologize for the timing of this message," Canoo's email read, as sighted by EV. "Please take this time to have a restful and enjoyable holiday season with your family."
Mashable has reached out to Canoo for comment, though we aren't expecting a reply considering that they're all reportedly on leave.
Last Wednesday Canoo announced it had furloughed 82 employees and was idling its Oklahoma factories, suspending work while attempting to secure the funding needed to continue operating. This followed a 12-week furlough of 30 Oklahoma factory workers which was previously announced in November.
"We regret having to furlough our employees, especially during the holidays, but we have no choice at this point," said Canoo in a brief statement last week. "We are hopeful that we will be able to bring them back to work soon."
This news is likely unsurprising to anyone following the startup's struggles. Several executives have left Canoo in the past few months, including its last remaining co-founder. The company is also facing multiple lawsuits, some of which concern allegations of unpaid bills.
Last month Canoo reported having only $700,000 in cash reserves, its stock sitting at just $0.086 as of writing. The company lost over $300 million in 2023 alone, bringing in a mere $886,000 in revenue — and spending twice as much on Aquila's private jet travel.
Last year, Oklahoma approved up to $100 million in performance-based state incentives for Canoo over the next 10 years. Speaking to News 4 last week, the Oklahoma State Department of Commerce noted that it had only paid Canoo $1 million to date, and that "if necessary, [it] will explore avenues to claw back public dollars."
Canoo isn't the only electric vehicle manufacturer who seems to be ramping down this month. Tesla also temporarily suspended Cybertruck production in early December, telling workers at its factory in Austin not to report for their shifts for three days.
Topics Electric Vehicles
JD Vance calls dating apps 'destructive'
NEC says new facial recognition system isn't stopped by masks
Samsung's new $156,000 TV comes with a solar
Is this Tesla's new Model S?
NYT Strands hints, answers for December 8
The Obamas planting a tree inspires Photoshop battle that will leaf you cracking up
'Promising Young Woman' is headed to VOD
How to gameshare on PS5
Over 25 beauty deals under $25 to shop during Amazon's Big Spring Sale
Very excited dog has a ball invading an Argentinian soccer game
'Alien: Earth' series offers behind
Emily Ratajkowski would like magazines to lay off the Photoshop, thank you
Emily Ratajkowski would like magazines to lay off the Photoshop, thank you
How to gameshare on Xbox
Google Pixel brings back popular camera features in new update
Samsung's new $156,000 TV comes with a solar
YouTube reportedly let Trump supporter profit as he tweeted from Capitol
Trump's leaked recording set to the song from 'Rent' is a jam
AI action figure trend: What it is and how to make yours
Everything you need to know about 'WandaVision'
Staff Picks: Ghost Stories, Black Books by The Paris ReviewMiss Piggy, Literary Icon by Emma StraubStaff Picks: ‘The Doll,’ Minaudières by The Paris ReviewShannon Ebner: The Continuous Present by Lauren O'NeillL.A. Advice: Writers Dating, Fear of the Blank Page by Sadie SteinTaylor’s Multitudes by Liz BrownStaff Picks: “Hadji Murat,” A Version of the Afterlife by The Paris ReviewAamer Hussein on 'The Cloud Messenger' by Jonathan GharraieThe Laundry Room by Thomas BellerUmberto Eco on ‘The Prague Cemetery’ by Andrew MartinDear Stanley by Emma StraubStaff Picks: 'Rules of Civility,’ Scott’s Photographs by The Paris ReviewCosmic Geometry by Lauren O'NeillJohn Jeremiah Sullivan Tonight at The Half King! by The Paris ReviewAsk the Paris Review! (West Coast Edition) by Sadie SteinPart 2: The Offer by Mark Van de WallePosters from the Paris Protests, 1968 by Atelier PopulaireOn the Shelf by Sadie SteinPart 1: The Amanuensis by Mark Van de WalleIsolation; Being in a Band by Sasha Frere Verizon will now trade you your personal data for ... concert tickets 'Game of Thrones' fan proves who the REAL worst character in the show is This fearless artist was lifted by 20,000 balloons for 9 hours YouTube speeds up live streaming for creators with 'ultra Laurene Powell Jobs' ad slams Trump on DACA with the words of Ronald Reagan China bans ICOs for being full of fraud and pyramid schemes You'll never be as cool as this reporter catching a foul ball on air Here are all the deportable offenses Trump's crappy children have committed Criticizing Google may have cost these scholars their jobs, but they’re only getting started Heinz's new Australian ad could be mistaken for a Pixar short film $17,000 raised to send a steadfast Texas meteorologist on a post 5 ways you can help 'Dreamers' in the wake of Trump's DACA decision Xiaomi advertises its first Android One phone as 'similar to iPhone' The Joker movie starring Leonardo DiCaprio? Never gonna happen. Mark Zuckerberg on DACA repeal: 'This is a sad day for our country' Developers hid a heartfelt tribute to a deceased fan hacker in 'Sonic Mania' Flying a plane through Hurricane Irma looks absolutely terrifying Grandma's 'Game of Thrones' costume would make Olenna Tyrell proud Very bad summer at the box office ends with a very, very bad Labor Day Here's how the White House may be keeping Trump off the web
1.1063s , 8231.4609375 kb
Copyright © 2025 Powered by 【Watch Sisters Seduction Online】,Co-creation Information Network