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Luminar Technologies reduces workforce by 30% this year
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Luminar Technologies reduces workforce by 30% this year
Sep 24, 2024 3:07 AM

Sept 23 (Reuters) - Luminar Technologies ( LAZR ), a

maker of lidar sensors for self-driving cars, said on Monday it

has cut about 30% of its workforce since the beginning of 2024,

from the previously announced 20%, as part of a restructuring

plan.

The new staff reduction will result in about $4 million to

$6 million in additional cash charges to be incurred primarily

in the third and fourth quarters of 2024, Luminar ( LAZR ) said in a

filing.

In May, Luminar ( LAZR ) had said that along with the 20% layoffs, it

is also looking to sub-lease some of its facilities in portions

or fully, reducing its global footprint as part of the

restructuring.

As of December 2023, the company had nearly 800 full-time

employees in the U.S., Germany, Sweden, India and China.

Lidar sensors, considered a key component into achieving

full autonomy in vehicles, help self-driving cars and

driver-assistance systems gain a three-dimensional map of the

road.

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