Lidar maker Luminar lays off more workers following CEO exit

Luminar, an organization that develops lidar techniques for autonomous autos, began shedding staff simply sooner or later after its founder and CEO, Austin Russell, abruptly resigned. In a regulatory filing noticed by TechCrunch, the corporate mentioned it started finishing up restructuring efforts on Could fifteenth, which embody a “discount in its workforce.”

The corporate doesn’t say what number of workers are affected by this most up-to-date spherical of layoffs, however it expects to spend round $4 million to $5 million on its restructuring plans. Luminar appointed Paul Ricci as CEO after Russell stepped down final week, however Russell will stay on Luminar’s board.