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Rejoicehub LLP, a prominent offshore IT outsourcing firm, was established in 2019 and has been making remarkable strides in the IT sector.Our dedicated team of over 100 professionals is our greatest asset. Our unwavering commitment to excellence has made us a highly sought-after company globally. We prioritize understanding our clients perspectives to enhance their product development process. Our adept professionals are capable of providing top-notch solutions. We promise our clients to bring their unique ideas to the market in a more user-friendly manner. Punctuality is a cornerstone of our work philosophy, and we prioritize delivering exceptional quality.
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Canoo furloughs workers and idles factory as it scrapes for cash
Struggling EV startup Canoo says it has furloughed 82 employees and is idling its factory in Oklahoma while it grasps for the capital needed to survive. The company claims it is in “advanced discussions with various capital sources” to raise emergency funding.
The announcement comes just a few days after board member James Chen resigned, and roughly one month after the company saw its chief financial officer and head lawyer depart. Canoo is also facing multiple lawsuits from suppliers over alleged late payments.
The new furloughs cap what has been a rough year for the startup. The company has undergone multiple rounds of layoffs and furloughs, and closed the Los Angeles office that used to serve as its headquarters. Canoo’s chief technology officer left in August, and all of the company’s founders are now gone. In the meantime, it has been kept afloat by loans from the venture firm run by its CEO, Tony Aquila.
It’s unclear what Canoo was making at its facility in Oklahoma before deciding to pause operations there. So far, the company has delivered electric vans to NASA, USPS, Walmart, and the Department of Defense for testing. But it has failed at its broader ambitions of ramping up manufacturing for other commercial customers.
In an unsigned statement, Canoo said: “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. We are hopeful that we will be able to bring them back to work soon.” Aquila did not immediately respond to a request for comment.
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