iRobot Corp. (IRBT) plans reduction of approximately 350 employees, 31% of workforce

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Go back to iRobot Corp. (IRBT) plans reduction of approximately 350 employees, 31% of workforce

iRobot Announces Operational Restructuring Plan to Position Company for the Future

January 29, 2024 8:31 AM EST

Announces Leadership Transition 

Provides Preliminary Fourth Quarter Results; Schedules Conference Call for February 27, 2024

BEDFORD, Mass., Jan. 29, 2024 /PRNewswire/ -- Today, iRobot Corporation (NASDAQ: IRBT), a leader in consumer robots, announced that it will implement an operational restructuring plan 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 segments. This plan was approved following iRobot's and Amazon's mutual decision to terminate their previously announced... More

Amazon and iRobot Agree to Terminate Pending Acquisition

January 29, 2024 8:30 AM EST

Amazons proposed acquisition of iRobot has no path to regulatory approval in the European Union, preventing Amazon and iRobot from moving forward togethera loss for consumers, competition, and innovation.

SEATTLE & BEDFORD, Mass.--(BUSINESS WIRE)-- Today Amazon (NASDAQ: AMZN) and iRobot (NASDAQ: IRBT) announced that they have entered into a mutual agreement to terminate their previously announced acquisition agreement, originally signed on August 4, 2022, under which Amazon would have acquired iRobot for cash consideration. This deal would have allowed Amazon to invest in... More