Luminar Technologies, the lidar company founded by Austin Russell, has announced another round of layoffs just days after its CEO’s sudden exit. According to a recent regulatory filing, the restructuring effort began on May 15 and will result in cash charges estimated between $4 million and $5 million during the second and third quarters of 2025. The company did not specify the number of employees affected.
These latest staff reductions follow significant layoffs last year, when Luminar reduced its workforce by nearly 30%, cutting 212 jobs and incurring $4 million to $6 million in similar charges. Some layoffs from the earlier restructuring extended into the first quarter of 2025.
The company has faced increasing challenges this month. Austin Russell, Luminar’s founder and CEO since inception and a billionaire after the company’s 2021 merger with SPAC Gores Metropoulos Inc., was replaced recently following an ethics inquiry. Luminar’s board appointed Paul Ricci, previously chairman and CEO at Nuance, as the new CEO and chair.
Shortly after this leadership shakeup, board member Jun Hong Heng also resigned. Heng’s departure, noted in a separate regulatory filing, was reported to be unrelated to any disagreements with the company’s policies or operations.
Luminar has not yet publicly commented on the ongoing changes.
