Embark Lays Off Workers, Explores Liquidation or Sale

Autonomous trucking company Embark Trucks announced March 3 it is winding down operations and is exploring a liquidation or sale.

Embark said it is laying off 70% of its workforce — 230 employees — and is closing offices in Houston and San Francisco. It also indicated to the remaining 30% of the staff that they are being kept on to facilitate the company’s shutdown. The layoffs are expected to take place in the coming weeks.

According to a regulatory filing with the Securities and Exchange Commission, the next step for the San Francisco-based company may be a liquidation, and it is actively looking for a buyer…

Embark is just the latest transportation startup to struggle as concerns about the economy grow. In late February Pittsburgh-based autonomous platooning startup Locomation denied published reports it was closing, but it acknowledged laying off an unspecified number of employees.