Tempo Automation lays off 90% of workforce
On July 13, 2023, the board of directors of California-based EMS provider, Tempo Automation, approved a plan of termination that will result in a reduction in its workforce by 62 employees – leaving just 7 employees behind.
The company notified employees about the workforce reduction on July 14, 2023 and the reduction was completed on July 14, 2023. Following the reduction, Tempo has only seven employees, including Joy Weiss, President and CEO, and Ralph Richart, Chief Technology and Manufacturing Officer, a SEC filling reads. The company’s chief financial officer, Ryan Benton, also ended his tenure with the company on July 14, 2023.
In a separate filling Tempo states that it entered into a manufacturing and fulfillment agreement with 123PCB Corporation dba Network PCB On July 29, 2023. Under this agreement, Network PCB has agreed to manufacture and deliver PCBA’s to the Tempo’s clients on behalf of the company.
Following this, Baja Bid – an asset management organisation – posted the company’s biggest auction to-date, stating that Tempo Automation would be closing their facility.