Embark to lay off 70% of workforce as it explores exit strategy

Please let us know if you have feedbackEmbark Technologies is laying off 230 employees as executives explore an exit strategy for the autonomous trucking startup, CEO and Co-founder Alex Rodrigues announced Friday. The autonomous trucking company is now focused on winding down operations while executives seek another solution for what’s left of the business and its assets. Embark had more than 14,000 reservations for its autonomous driving system according to a securities filing last year, but no actual purchase agreements. “The last 9 months have been tough for the autonomous trucking industry, and for Embark,” Rodrigues said. “No assurance can be given that the Company’s exploration of strategic alternatives will result in any change in strategy,” according to the filing.