Luminar, which makes lidar sensors for autonomous driving systems, announced today plans to lay off 20 percent of its workforce amid a broader restructuring of its production process. The company, which just announced shipments of its next-generation laser sensors to Volvo, said that it will transition to an “asset light” business model that will see more of its production outsourced to its partners. As part of the restructuring, at least 147 people will lose their jobs.
This helps autonomous vehicles “see” other objects on the road, like cars, pedestrians, and cyclists, all without the help of GPS or a network connection. But as autonomous vehicles have lost some of their luster, Luminar and other supportive players have fallen on hard times. The company reported a net loss of $571.3 million for 2023, up from $445.9 million in 2022. It also brought in $69.7 million in revenue, up from $40.7 million the previous year.
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