Luminar, a leading lidar company founded by Austin Russell, who was recently replaced as CEO, is undergoing another restructuring phase, as indicated in a recent regulatory filing.

The company has implemented a new round of layoffs, although the exact number of affected employees has not been disclosed. This move follows significant workforce reductions in 2024, which resulted in the elimination of approximately 30% of its workforce, incurring estimated additional cash charges of $4 million to $6 million. The 2024 layoffs, which affected 212 employees, extended into the first quarter of 2025.

According to its latest regulatory filing, Luminar commenced additional layoffs on May 15, anticipating associated cash charges of $4 million to $5 million. These costs are expected to be incurred during the second and third quarters of the current year.

The layoffs mark the latest challenge for Luminar, which has been dealing with significant changes in its leadership. Earlier this month, the company’s board of directors removed Russell from his positions as CEO and board chair, citing an ethics inquiry. The board subsequently appointed Paul Ricci, former chairman and CEO of Nuance, to succeed Russell. The board’s statement regarding Russell’s departure did not provide further details.

Following the announcement of the leadership change, board member Jun Hong Heng submitted his resignation, as disclosed in a regulatory filing. Heng’s decision to resign was reportedly not due to any disagreements with the company’s operations, policies, or practices.

The company has not provided a response to requests for comment.

Russell’s net worth surpassed $1 billion after Luminar’s initial public offering in 2021, which occurred through a merger with special purpose acquisition company Gores Metropoulos Inc., resulting in a post-deal market valuation of $3.4 billion. Prior to the SPAC announcement, Luminar had secured $250 million in funding.