Luminar Restructures Business Model, Cuts Workforce by 20%
Discover how lidar company, Luminar, is implementing significant changes to its business model to enhance production and profitability. With a 20% reduction in workforce and the termination of contract workers, Luminar aims to adopt a more "asset-light" approach. CEO Austin Russell expresses confidence in Luminar's core business and explains the need for restructuring to align with the company's needs. The restructuring is expected to bring cost reductions of -65 million annually and enable faster product launches. Luminar's exclusive partnership with TPK Holding strengthens its manufacturing capabilities and positions the company for success in the lidar market.