Innoviz

Israeli lidar manufacturer Innoviz has laid off 9% of its workforce, affecting about 40 employees, as part of cost-cutting measures amid ongoing financial struggles. This latest round of layoffs, announced in early February 2025, follows a previous 13% reduction a year ago and leaves the company with 350 employees. The cuts, primarily in the development department, are expected to reduce annual expenses by $12 million. Innoviz, which develops sensors for autonomous vehicles and went public via a SPAC merger, faces investor disappointment due to slow revenue growth and significant losses, despite having contracts with major clients like Volkswagen and Mobileye. The company recently secured an $80 million funding agreement to support its operations.

LiDAR technology developer Innoviz is laying off approximately 60 employees, representing 13% of its 468-person workforce, as announced on January 31, 2024. The automotive tech company, headquartered in Israel with operations in Europe and the U.S., is implementing these cuts to reduce annual cash outlays by $22-24 million and extend its financial runway. This restructuring aims to optimize costs and focus investments on its newer InnovizTwo sensor and software suite, as the company navigates a critical market capture phase in the competitive LiDAR industry.