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Roomba maker iRobot is laying off 105 employees, about 16% of the company’s workforce, according to the Securities and Exchange Commission (SEC). Deposit – Saying that the cuts are part of the “operational restructuring plan.”
The move comes after iRobot cut nearly 350 jobs — about 31% of its workforce — earlier this year. These cuts were made after plans to acquire Amazon fell through. Amazon planned to acquire iRobot for $1.7 billion, but the two companies mutually terminated the agreement, stating that they did not see a path to regulatory approval in the European Union. As a result, iRobot received a $94 million termination fee from Amazon.
iRobot CEO Gary Cohen addressed the latest cuts throughout the company Q3 2024 earnings call Wednesday.
“While these moves are challenging, they have fundamentally changed the way we work with our partners to efficiently develop and build our robots,” Cohen said. “Our new operating model is able to significantly increase new product launches at less than half the internal resources and about a third of the cost.”
Since the beginning of 2024, the company has reduced its global workforce by approximately 50%.
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