Better Place might not be such a good one when it comes to employment, given reports that the electric vehicle infrastructure network might fire as many as 200 workers. According to the Israels business publication Globes, Better Place, which at one point employed as many as 400 people in Israel, has already pink-slipped about 140 people.
Many of those on the firing line work in development and software, the publication said. Better Place confirmed to the publication that it was firing some people as part of its reorganization to make the company more financially solvent.
The recent months haven't been kind to Better Place, which has had orders for its electric vehicles from Israel-based leasing companies frozen in the wake of the reorganization. In October, company founder Shai Agassi stepped down and was replaced by Evan Thornley, the previous CEO of Better Place Australia.
The company has been estimated to have lost about $437 million since its 2007 founding, including about $128 million this year. Last month, Better Place said it would try to sell about $100 million in company equity, with Israel Corp., the company's biggest shareholder, set to fund about two-thirds of that total. Such cash would help Better Place broaden its current network of battery-swapping stations and charging units in Israel, Denmark and Australia.