Luminar kicks off another round of layoffs amid CEO’s sudden resignation | TechCrunch
May 21, 2025 - techcrunch.com
Luminar, a lidar technology company, is undergoing another round of restructuring, as indicated by a recent regulatory filing. The company has initiated additional layoffs starting May 15, following a significant workforce reduction in 2024, where 30% of employees were laid off, costing $4 million to $6 million. The new layoffs are expected to incur cash charges of $4 million to $5 million in the second and third quarters of 2025. These developments come amid leadership changes, with Austin Russell being replaced as CEO and board chair by Paul Ricci, following an ethics inquiry. Additionally, board member Jun Hong Heng resigned, although his departure was not due to any disagreements with the company.
Austin Russell, who became a billionaire after Luminar went public in 2021 through a merger with Gores Metropoulos Inc., has not commented on the recent changes. The company has faced challenges since its public debut, including workforce reductions and leadership shifts. Despite these issues, Luminar continues to focus on its lidar technology, which is crucial for autonomous vehicles and other advanced transportation systems. The company has not responded to requests for further comment on the recent restructuring and leadership changes.
Key takeaways:
Luminar is undergoing another restructuring with new layoffs starting May 15, following a 30% workforce reduction in 2024.
The recent layoffs are expected to cost $4 million to $5 million in cash charges, impacting the second and third quarters of 2025.
Austin Russell, the founder and former CEO of Luminar, was replaced by Paul Ricci following an ethics inquiry.
Board member Jun Hong Heng resigned shortly after the leadership change, with no disagreements cited regarding company operations or policies.
