Luminar is facing another round of layoffs. The lidar company announced additional cuts starting May 15, according to a recent regulatory filing. The company did not specify how many jobs would be impacted, but it’s expected to incur cash charges of $4 million to $5 million in the second and third quarters of this year.
This follows extensive workforce reductions in 2024, where about 30% of employees were laid off, totaling 212 workers. Those layoffs came with projected costs of $4 million to $6 million.
The latest restructuring adds more turmoil for Luminar. Earlier this month, the board ousted CEO Austin Russell amidst an ethics inquiry. Paul Ricci, former CEO of Nuance, has stepped in as the new leader. Shortly after Russell’s exit, board member Jun Hong Heng also resigned, noting his departure was unrelated to company disagreements. 
The company has not commented on the situation.
Russell became a billionaire when Luminar went public in 2021, following a merger with Gores Metropoulos Inc., which valued the firm at $3.4 billion after raising $250 million pre-SPAC announcement.
