Innoviz Layoffs
February 2025
Innoviz announced a layoff affecting 40 employees (9% of its workforce) in February 2025. The company operates in the Transportation sector.
40
9%
Feb 4, 2025
Company Information
- Industry
- Transportation
- Country
- IL
- Region
- Tel Aviv, Non-U.S.
About
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.
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support@layoffs.nlCompany Information
- Industry
- Transportation
- Country
- IL
- Region
- Tel Aviv, Non-U.S.