Luminar Technologies lays off 20% workforce, transitions to an "asset-light" business model.
Lidar maker Luminar Technologies is laying off around 20% of its workforce and transitioning to an "asset-light" business model, outsourcing more production to partners. The company, which manufactures lidar sensors for autonomous vehicles, will cut about 160 jobs and reduce its global footprint by sub-leasing facilities. The restructuring aims to lower supply chain costs and improve the company's financial position.
May 03, 2024
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