Lidar maker Luminar lays off more workers following CEO exit

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Luminar, a company that develops lidar systems for autonomous vehicles, started laying off workers just one day after its founder and CEO, Austin Russell, abruptly resigned. In a regulatory filing spotted by TechCrunch, the company said it began carrying out restructuring efforts on May 15th, which include a “reduction in its workforce.” Last year, Luminar announced plans to cut 20 percent of its employees as it began outsourcing more of its production. Luminar later revealed in September that it had laid off around 30 percent of workers since the beginning of 2024, affecting 212 employees, according to TechCrunch. Luminar has encountered financial difficulties in recent months and was nearly delisted from the NASDAQ. ... Read full article.