Luminar Applied sciences, a maker of lidar sensors for self-driving vehicles, stated on Friday that it will reduce its workforce by about 20%, as a part of a restructuring plan for the present yr.
As of December final yr, the corporate had almost 800 full-time staff within the U.S., Germany, Sweden, India and China.
Luminar can also be seeking to sub-lease a few of its amenities in parts or totally, decreasing world footprint as a part of the restructuring.
The plan shall be applied instantly and result in an annual discount in working prices by USD 50 million to USD 65 million publish completion by this yr’s finish, the corporate stated.
The corporate launched its newest lidar sensor, Halo, in April, partnering with auto-software maker Utilized Instinct to assist automobile makers in testing their assisted-driving methods.
Lidar sensors assist self-driving vehicles and driver-assistance methods achieve a three-dimensional map of the highway, and is taken into account a key to attaining full autonomy in automobiles.
