Better Place to lay off up to half of Israeli staff
Published October 29, 2012
JERUSALEM (JTA) — Better Place, which is bringing electric car charging stations to Israel, will lay off up to half of its staff.
The layoffs will come from its research and development, and infrastructure departments, Ynet reported.
The layoffs of between 150 and 200 people of the 400 person staff follows the start of the company’s new CEO Evan Thornley. Shai Agassi, the Israeli-American founder of Better Place, was ousted by the company’s board as the company’s CEO earlier this month. He then resigned from the company’s board of directors.
Better Place, based in Palo Alto, Calif., raised more than $750 million in investments since it was founded in 2007. During that time, the company has lost $490 million, according to The Wall Street Journal.
The company provides charge spots and battery-switch stations for the electric car Renault Fluence ZE, which recently went on sale in Israel.
Another round of layoffs is expected in the near future, according to Ynet.
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