Roomba Manufacturer iRobot Lays Off Employees, Plans To Reduce Office Footprint
Roomba creator iRobot has terminated about 100 employees and plans to reduce its office space in a cost-saving effort amid declining sales.
The company said in regulatory filings Thursday it would "resize" its 270K SF global headquarters in Bedford, Massachusetts, by the end of the year, the Boston Globe reported. The downsizing is part of the company's attempt to generate around $30M in savings.
Along with its headquarters, iRobot has office locations in Pasadena, California, Europe and Asia.
The tech company has been struggling this year, with profits falling 26% compared to the same period last year, pushing it into cost-saving mode. IRobot cited macroeconomic effects like inflation, rising interest rates and a potential recession as reasons for the decline in sales.
In August, iRobot announced that Amazon has reached a deal to acquire it, valuing the company at around $1.7B. The deal hasn't been finalized, and the companies haven't provided a timeline for its closing.
The personnel and office cuts from iRobot are part of a trend of tech companies downsizing, including Meta, which laid off 11,000 employees earlier this week, and Twitter, which laid off half of its workforce earlier this month.
