Innoviz To Cut Headcount By ~20%; Expects Cost Savings Of ~$17.5M On Annualized Basis
Benzinga Newsdesk 5 hours ago
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Optimizing Operations – Innoviz is implementing a realignment of its operations to accelerate its progress toward profitability. To maximize efficiencies, the Company will streamline its R&D and operations. As a
Optimizing Operations – Innoviz is implementing a realignment of its operations to accelerate its progress toward profitability. To maximize efficiencies, the Company will streamline its R&D and operations. As a result of these actions, the Company's workforce will be reduced by approximately 20%, and the Company expects the realignment to deliver cost savings of approximately $17.5 million on an annualized basis compared to its current run rate.