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Luminar secures up to $200M following CEO departure and layoffs

22 May 2025 at 00:30
Lidar company Luminar reached a deal with Yorkville Advisors Global and another unnamed investor that could bring another $200 million into its coffers through the sale of convertible preferred stock over an 18-month period. The agreement, which was announced in a regulatory filing Wednesday, follows an abrupt change in leadership and layoffs. Earlier this month, [โ€ฆ]

Report: DOGE supercharges mass-layoff software, renames it to sound less dystopian

8 May 2025 at 16:37

The Department of Government Efficiency (DOGE) has reportedly overhauled a historically wonky Department of Defense-designed tool that automates layoffs of federal workers.

Expected to expedite DOGE's already rushed efforts to shrink the government, the redesigned software could make it easier for DOGE to quickly dismantle the biggest agencies in a blink, sources familiar with the revamp told Reuters.

Developed more than two decades ago, AutoRIF (short for automated reductions in force) was deemed too "clunky" to use across government, sources told Reuters. In a 2003 audit, the DOD's Office of the Inspector General noted, for example, that "specialized reduction-in-force procedures needed for the National Guard technicians made the module impractical." Basically, each department needed to weigh its cuts differently to avoid gutting essential personnel. Despite several software updates since then, Wired reported, the tool remained subject to errors, sources told Reuters, requiring most federal agencies to continue conducting firings manually rather than risk work stoppages or other negative outcomes from sloppy firings.

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ยฉ Pacific Press / Contributor | LightRocket

GM cuts 500 jobs because of weak demand for BrightDrop electric vans

11 April 2025 at 18:27
General Motors is laying off 500 workers at a factory in Canada because of weak demand for its all-electric BrightDrop vans, according to CNBC. GM told CNBC that the cuts were not related to the ongoing trade war being waged by President Donald Trump. The company is cutting one of the two shifts at the [โ€ฆ]
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