Luminar kicks off another round of layoffs amid CEO’s sudden resignation

Luminar, the lidar company founded by recently replaced CEO Austin Russell, is going through another restructuring, according to a recent regulatory filing. This new round of layoffs, which the company did not provide figures for, follows extensive cuts to the workforce in 2024. Luminar cut about 30% of its workforce in 2024, a reduction that was expected to cost $4 million to $6 million in additional cash charges. Some of those layoffs spilled into the first quarter of 2025. A total of 212 employees were laid off. In its latest regulatory filing, the company said it began additional layoffs May 15. These new layoffs are expected to cost $4 million to $5 million in cash charges. These costs are expected to be incurred in the second and third quarters of this year. The layoffs are the latest complication for Luminar. Earlier this month, the company’s board replaced Russell as CEO and board chair. The board issued a press release saying he resigned as the result of an ethics inquiry w ... Read full article.