February 15, 2023: -On Monday, Roomba developer iRobot announced programs to cut around 7% of its workforce.
The slashes will affect almost 85 employees, iRobot said in its fourth-quarter earnings report. The firm had 1,254 employees as of December 31, 2022.
For the fourth quarter, the firm posted $84.1 million, a decrease of $357.9 million in revenue. IRobot wishes to see “muted” orders in the first quarter of 2023.
IRobot is slashing employees while it’s in the process of being acquired by Amazon. The e-commerce company announced it would buy iRobot for $1.7 billion last August, but the deal is the subject of a Federal Trade Commission antitrust review.
Increasing interest prices and slowing consumer demand have triggered fears of a recession and spurred firms to cut costs. IRobot is joining a stream of tech firms that have announced layoffs in recent months. Amazon laid off nearly 18,000 corporate staffers, while Meta, Google, Salesforce and different have announced significant job cuts.
The iRobot cuts followed layoffs of about 100 employees in August when the company cited its need to better align its prices structure with near-term earnings and cash flow and improve profitability.
The latest slashes are being made “in expectations that market conditions will be challenging into 2023,” the firm stated in the earnings release. It is taking a $4 million impairment charge due to the layoffs. On Monday, IRobot shares were down in extended trading.
At least 30 people have died as freezing temperatures sweep across the US, with snow, ice, power outages and travel disruptions affecting millions nationwide.
Trump defeated US inflation is the Davos claim, but US CPI still sits near 2.7%. Trump defeated US inflation faces reality as food prices, tariffs, and sticky core inflation keep pressure alive.
European Parliament freezes Mercosur deal and refers it to the EU Court of Justice, delaying ratification as lawmakers question legal basis, sustainability safeguards, and EU regulatory autonomy.
EU anti-coercion instrument is the EU’s legal tool to deter economic coercion. Learn how it’s triggered, the timeline, who decides, and what countermeasures the EU can deploy if talks fail
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
Leave us a message
