SAN FRANCISCO – Tempo Automation has established a manufacturing outsource agreement with Network PCB, a PCB manufacturing and assembly company located in San Jose, CA.

The company laid off 62 of its employees in mid-July, leaving only seven employees on its payroll, while CEO Joy Weiss and CTO Ralph Richart saw their base salaries cut by 50%.

In a filing with the SEC, Tempo said the layoffs and executive salary cuts come as a way of reducing corporate overhead to better position the company to fund its planned operations while meeting obligations as they come due. Tempo has “experienced negative cash flows since inception that raise substantial doubt about the company's ability to continue,” the filing said. The company’s revenue in the first quarter of 2023 was $2.8 million, while its net loss was $7.4 million.

Current Tempo customers have been given the option to move their account to Network PCB, purchase the inventory for an active job currently held at Tempo, have their consigned parts returned to them, or purchase additional inventory that they may have used as part of orders built by Tempo in the past.

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