iRobot Corporation unveiled on Monday in a statement that the company will be carrying out an operational restructuring plan, which foresees the cut of 350 workers, representing 31% of the total workforce. Most of the affected staff will be notified by March 30, 2024.
The plan is "designed to position the Company for stabilization in the current environment, while focusing on profitability and advancing key growth initiatives to extend its market share in the mid-tier and premium segment," the firm detailed.
The announcement comes following the news that iRobot and Amazon.com Inc. came to a mutual agreement to call off acquisition plans. The former's shares plunged over 16% in the premarket, going for $14.20 apiece.
