Robot delivery startup Nuro announced plans to layoff a portion of its workforce and to pause its commercial operations as it pivots to more research and development. The news comes amid a broader set of financial challenges for the burgeoning autonomous vehicle sector.
Nuro grew too rapidly in recent years thanks to an abundance of capital, a zero interest rate environment, and a growing sense of competition. But the company has since run into economic headwinds that are challenging the entire tech industry.
Last November, Nuro laid off 20 percent of its staff, or about 300 employees. Additional layoffs will come later this week, Nuro said in a blog post — though it didn’t disclose how many workers would be affected.
“Last month, we…