Luminar, a Leader Company founded by the recently changed CEO Austin Russell, is undergoing another reorganization, According to recent regulatory filing.
The new era of the holiday, for which the company did not provide data, followed the manpower widely deducted in 2024. Luminar cut about 30 % of its manpower in 2024, which was expected to cost additional cash from $ 4 million to $ 6 million. Some of these holidays spread in the first quarter of 2025. A total of 212 employees were released.
In its latest regulatory filing, the company said it started additional holidays on May 15. The new holidays are expected to cost $ 4 million to $ 5 million in cash. It is expected that the other and third constituencies of this year will cost these costs.
Holidays are the latest complications for luminar. Earlier this month, the company’s board replaced Russell’s CEO and board chair. The board issued a press release Says He resigned without providing any additional information as a result of ethics inquiry. The Luminar board replaced Russell and appointed Paul Reiki in this role. Reiki is the former chairman and CEO of Nawas.
One day after the announcement of leadership change, board member June Hong Hong also resigned, According to a regulatory filingWhich stated that the decision was not due to any disagreement with the company over any issues related to the company’s works, policies or methods.
The company has not responded to comment requests.
Russell became a billionaire after its Leather Startup Luminar became commonplace in 2021 when the company achieved special purpose with the company Gores Metropolos Inc., which is later a market price of $ 3.4 billion. Prior to the announcement of Space, Luminar raised $ 250 million.