IRobot to Cut 105 Jobs in Another Restructuring

Dow Jones

Nov 06, 2024

By Paul Ziobro

IRobot is cutting 105 jobs, or about 16% of its workforce, the second round of layoffs this year as the smart-vacuum company looks to trim costs.

The Bedford, Mass., company said Tuesday it plans to record about $5.3 million in charges related to severance packages and benefits as a result of the layoffs, with the majority of the charges anticipated in the fourth quarter.

The company earlier this year eliminated about 350 jobs, representing around 31% of its workers, after terminating a $1.7 billion sale to Amazon.com. The deal fell apart due to regulatory pushback, particularly in the European Union, where authorities were worried the deal could restrict competition in the market for robot vacuum cleaners.

IRobot shares closed Tuesday at $10.41, up 11%, although the stock is still down 73% this year.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

November 05, 2024 16:23 ET (21:23 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2481865163"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2481865163\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2481865163?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 05:23","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481865163","market":"hk","top_or_hot":-1,"title":"IRobot to Cut 105 Jobs in Another Restructuring","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Paul Ziobro \n</p>\n<pre>\n \n</pre>\n<p>\n  IRobot is cutting 105 jobs, or about 16% of its workforce, the second round of layoffs this year as the smart-vacuum company looks to trim costs. \n</p>\n<p>\n  The Bedford, Mass., company said Tuesday it plans to record about $5.3 million in charges related to severance packages and benefits as a result of the layoffs, with the majority of the charges anticipated in the fourth quarter. \n</p>\n<p>\n  The company earlier this year eliminated about 350 jobs, representing around 31% of its workers, after terminating a $1.7 billion sale to Amazon.com. The deal fell apart due to regulatory pushback, particularly in the European Union, where authorities were worried the deal could restrict competition in the market for robot vacuum cleaners. \n</p>\n<p>\n  IRobot shares closed Tuesday at $10.41, up 11%, although the stock is still down 73% this year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 05, 2024 16:23 ET (21:23 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IRobot to Cut 105 Jobs in Another Restructuring</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIRobot to Cut 105 Jobs in Another Restructuring\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-06 05:23</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Paul Ziobro \n</p>\n<pre>\n \n</pre>\n<p>\n  IRobot is cutting 105 jobs, or about 16% of its workforce, the second round of layoffs this year as the smart-vacuum company looks to trim costs. \n</p>\n<p>\n  The Bedford, Mass., company said Tuesday it plans to record about $5.3 million in charges related to severance packages and benefits as a result of the layoffs, with the majority of the charges anticipated in the fourth quarter. \n</p>\n<p>\n  The company earlier this year eliminated about 350 jobs, representing around 31% of its workers, after terminating a $1.7 billion sale to Amazon.com. The deal fell apart due to regulatory pushback, particularly in the European Union, where authorities were worried the deal could restrict competition in the market for robot vacuum cleaners. \n</p>\n<p>\n  IRobot shares closed Tuesday at $10.41, up 11%, although the stock is still down 73% this year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 05, 2024 16:23 ET (21:23 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481865163","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481865163","pubTimestamp":1730841780,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"IRobot is cutting 105 jobs, or about 16% of its workforce, the second round of layoffs this year as the smart-vacuum company looks to trim costs.The Bedford, Mass., company said Tuesday it plans to record about $5.3 million in charges related to severance packages and benefits as a result of the layoffs, with the majority of the charges anticipated in the fourth quarter.The company earlier this year eliminated about 350 jobs, representing around 31% of its workers, after terminating a $1.7 billion sale to Amazon.com. The deal fell apart due to regulatory pushback, particularly in the European Union, where authorities were worried the deal could restrict competition in the market for robot vacuum cleaners.IRobot shares closed Tuesday at $10.41, up 11%, although the stock is still down 73% this year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4547":"WSB热门概念","BK4567":"ESG概念","IRBT":"iRobot Corp.","BK4191":"家用电器"},"translate_title":"IRobot将在另一次重组中裁员105人","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IRBT":0.9},"content_text":"By Paul Ziobro \n\n\n \n\n\n  IRobot is cutting 105 jobs, or about 16% of its workforce, the second round of layoffs this year as the smart-vacuum company looks to trim costs. \n\n\n  The Bedford, Mass., company said Tuesday it plans to record about $5.3 million in charges related to severance packages and benefits as a result of the layoffs, with the majority of the charges anticipated in the fourth quarter. \n\n\n  The company earlier this year eliminated about 350 jobs, representing around 31% of its workers, after terminating a $1.7 billion sale to Amazon.com. The deal fell apart due to regulatory pushback, particularly in the European Union, where authorities were worried the deal could restrict competition in the market for robot vacuum cleaners. \n\n\n  IRobot shares closed Tuesday at $10.41, up 11%, although the stock is still down 73% this year. \n\n\n \n\n\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 05, 2024 16:23 ET (21:23 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}