Luminar is cutting jobs, losing its CFO, and warning of a cash shortage
Lidar-maker Luminar is warning shareholders that it will run out of cash in early 2026 and has announced a 25% cut to its workforce to help staunch the bleeding — its second layoff of the year — according to a Friday regulatory filing. It’s not immediately clear how many workers will be affected. Luminar started the year with around 580 employees, but the company did not specify the size of the layoff earlier this year. The company did not immediately respond to a request for comment. The company also announced its chief financial officer, Thomas Fennimore, is stepping down on November 13 “to pursue other career opportunities.” Luminar said Fennimore’s departure is “not the result of any disagreement” about its finances or with the company’s auditors. This…
