Alphabet Inc.’s self-driving technology unit, Waymo, laid off 137 employees in its second round of layoffs in 2023, the firm told Reuters on Wednesday.
Including the latest job cuts, the division has let go of 8 percent of its workforce, or 209 employees, this year.
Investors and industry watchers have been concerned as to how billions of dollars have been poured in the self-driving technology sector in a short span of time to commercialize it.
Activist investor TCI Fund Management said in November that Waymo is the biggest component of the Google-parent’s Other Bets segment and it has not justified excessive investment, adding that losses at the unit should be stemmed….