Exro Technologies Cuts 60 Jobs Amid Strategic Review, Mounting Losses

What’s Going on at Exro Technologies?

Calgary-based Exro Technologies is cutting approximately 60 jobs and postponing its shareholder AGM, originally scheduled for Friday, as the electric vehicle tech firm undergoes a major strategic review.

• In a corporate update on Wednesday, Exro said it’s evaluating options to sell off its intellectual property, core technology, and certain business segments to stabilize operations and preserve cash
• “Exro has taken steps to reduce costs and preserve cash by terminating approximately 60 of its employees,” the company stated
• Layoffs affect most of the staff in its Cell Driver, Coil Driver, and SEA Driver divisions, reports the Calgary Herald.

Additional Context

This restructuring marks a sharp reversal for the clean tech firm, which opened a 37,000-square-foot manufacturing facility in southeast Calgary in 2022 and had aimed to scale up production to 100,000 units annually.

• Exro is working under the oversight of its senior secured lender, having secured $30 million USD in financing earlier this year
• Continued access to that funding depends on asset sales and achieving revised financial milestones, which the company is now negotiating
• No assurance has been given that any sale will be completed
• In November 2024, shareholders filed a proposed class action lawsuit, alleging that Exro misrepresented revenue projections following its $250M acquisition of SEA Electric.

Bottom line: Exro Technologies is entering survival mode — shedding staff, shelving growth plans, and seeking buyers for key assets as investor trust and revenue collapse.

SEE ALSO:

• Atlassian Axes 150 Jobs Amid AI Shift as CEO Defends $75M Jet Purchase
• Scale AI Slashing 14% of Staff in 2025
• Amazon Expects AI to Shrink Corporate Workforce

Your Severance Rights as an Exro employee in Canada

If you’re let go from Exro — without cause, for cause, or as part of a broader restructuring — you may be owed up to 24 months’ pay as severance. This amount includes:

• Salary
• Bonuses or commissions
• RSUs, ESPPs, and stock awards
• Pension and benefits contributions
• Vacation pay and allowances

What to Do If Exro Cuts Affect You

Whether you’ve already been let go or suspect it’s coming soon, here’s what to do right now:

1. Do not sign anything without legal advice — severance packages in Canada are often inadequate.
2. Collect documents, including your employment contract, offer letters, termination notices, text messages, and internal emails.
3. Use our FREE Severance Pay Calculator to estimate what you’re actually owed.
4. Talk to Samfiru Tumarkin LLP employment lawyer who understands the tech sector.

Protect Your Career — Before It’s Too Late

At Samfiru Tumarkin LLP, we’ve helped over 50,000 Canadians — including Exro employees and staff at other major global companies operating in Canada — recover tens of millions of dollars since 2007.

Our nationally recognized employment lawyers across Canada successfully challenge unfair terminations and negotiate stronger severance packages — often over a short period of time.

📞 Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.