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Ford-Backed Self-Driving Startup Argo AI Lays Off 150 Workers

An Argo AI modified Ford Motor Co. Fusion autonomous vehicle.

An Argo AI modified Ford Motor Co. Fusion autonomous vehicle.

Photographer: Mark Kauzlarich/Bloomberg

Argo AI, the driverless startup backed by Ford Motor Co. and Volkswagen AG, laid off about 150 workers Thursday as the young company ramped up too quickly and found itself overstaffed.

Argo confirmed the layoffs from a global workforce that has grown to more than 2,000.