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Canoo Furloughs 82 Employees, Suspends Oklahoma Operations -- Shares Fall After Hours
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Canoo Furloughs 82 Employees, Suspends Oklahoma Operations -- Shares Fall After Hours
Dec 18, 2024 2:13 PM

04:59 PM EST, 12/18/2024 (MT Newswires) -- Canoo ( GOEV ) said late Wednesday it temporarily reduced its workforce with 82 salaried and hourly employees furloughed and also suspended its manufacturing operations in Oklahoma.

The electric cargo vehicle manufacturer said it has "no choice at this point" as it works to obtain essential funding for continued operations.

Canoo ( GOEV ) said advanced negotiations are underway with multiple capital providers.

company shares were down 4% in after-hours activity.

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