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.”
The company doesn’t say how many employees are affected by this most recent round of layoffs, but it expects to spend around $4 million to $5 million on its restructuring plans. Luminar appointed Paul Ricci as CEO after Russell stepped down last week, but Russell will remain on Luminar’s board.
