Luminar, a LIDAR company founded by recent CEO Austin Russell, is undergoing another restructuring, according to a recent regulatory filing.
The new round of layoffs, which the company did not provide numbers, follows a massive cut in the workforce in 2024. In 2024, Luminar cut around 30% of its workforce. Some of these layoffs were leaked in the first quarter of 2025. A total of 212 employees have been fired.
In its latest regulatory submission, the company said it began additional layoffs on May 15th. These new layoffs are expected to cost between $4 million and $5 million in cash charges. These costs are expected to occur in the second and third quarters of this year.
Layoffs are the latest complications of luminar. Earlier this month, the company’s board replaced Russell with CEO and board chair. The board issued a press release stating that he resigned as a result of an ethical investigation without providing additional information. Luminar’s board replaced Russell and appointed Paul Rich in the role. Rich is Nuance’s former chairman and CEO.
The day after the leadership change was announced, board member Jun Hong Heng also resigned, according to a regulatory filing.
The company has not responded to requests for comment.
Russell became a billionaire after Lidar startup Luminar was released in 2021 after the company merged with special purpose acquisition company Gores Metropoulos Inc. Luminar raised $250 million before the SPAC announcement.