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Better Place to lay off up to half of Israeli staff

JERUSALEM (JTA) — Better Place, which 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 research and development, and infrastructure departments, Ynet reported. 

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

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

Better Place, based in Palo Alto, Calif., raised more than $750 million in investments since its founding  in 2007. The company has lost $490 million, according to The Wall Street Journal.

Better Place provides charge spots and battery-switch stations for the Renault Fluence ZE, an electric car then went on sale recently in Israel.

 

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