Ouster Cuts Jobs Amid Further Restructuring
June 22 2023 - 6:24PM
Dow Jones News
By Sabela Ojea
Ouster said Thursday it is reducing the size of its workforce as
it implements additional restructuring measures.
The provider of lidar sensors for the automotive, industrial and
robotics industries didn't disclose how many employees would lose
their jobs.
"We are positioning Ouster for long-term success by taking the
necessary steps to reduce costs while leveraging efficiencies to
grow our top line revenues and execute on our hardware and software
product roadmaps," Chief Executive Angus Pacala said.
Ouster reiterated its guidance for the second quarter and said
it is on track to book annualized merger-related cost synergies of
at least $80 million to $85 million by the end of the fourth
quarter.
Ouster and Velodyne completed a merger in February.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
June 22, 2023 18:09 ET (22:09 GMT)
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