Innoviz Layoffs
January 2024
Innoviz announced a layoff affecting 60 employees (13% of its workforce) in January 2024. The company operates in the Transportation sector.
60
13%
Jan 31, 2024
Company Information
- Industry
- Transportation
- Country
- IL
- Region
- Tel Aviv, Non-U.S.
About
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.
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support@layoffs.nlCompany Information
- Industry
- Transportation
- Country
- IL
- Region
- Tel Aviv, Non-U.S.