iRobot to cut another 16% of workforce as part of operational restructuring
Beano5
IRobot (NASDAQ:IRBT) is conducting another round of layoffs this year as a planned “operational restructuring” will include a 16% reduction in the company’s workforce, representing 105 employees.
The restructuring will result in charges of around $5.3M relating to severance packages and related benefits, with the majority of the costs to be reflected in the current quarter.
This is the second time the parent company of the Roomba vacuum cleaner has eliminated employees to trim costs. In January, iRobot (IRBT) cut 31% of its workforce in the wake of a terminated acquisition by Amazon (AMZN). The $1.4B deal was scrapped after European regulators raised concerns about anti-competitiveness in the robot vacuum cleaner market.
iRobot (IRBT) shares are down 9% in after-hours trading.
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