Luminar announces 25% workforce reduction

In a regulatory filing, Luminar (LAZR) said, “On October 29, 2025, the company committed to a plan to reduce its workforce by approximately 25% in order to reduce operating costs. The reduction will commence immediately and is expected to be substantially completed by 2025 year-end. The company estimates that it will incur approximately $2.0 million to $3.0 million in cash charges associated with employee severance and related employee costs, to be incurred primarily in the fourth quarter of 2025. The company’s estimates are subject to a number of assumptions, and actual results may materially differ. The company may incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the workforce reduction.”