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Wednesday, October 31, 2012 | return to: news & features, international


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Better Place to lay off up to half its staff

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Better Place, the Palo Alto–based company that is bringing electric car charging stations to Israel, will lay off up to half of its staff.

The layoffs of 150 to 200 employees from a staff of 400 will come from the infrastructure and research and development departments, Ynet reported.

The company’s new CEO, Evan Thornley, started in October after Shai Agassi, the Israeli-American founder of Better Place, was ousted by the company’s board. Agassi then resigned from the board of directors.

Another round of layoffs is expected in the near future, according to Ynet.

Better Place raised more than $750 million in investments since its founding in 2007. The company has lost $490 million, according to the Wall Street Journal. — jta

 


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