Roomba maker iRobot on Monday announced plans to cut around 7% of its workforce. The cuts will affect roughly 85 employees, iRobot said in its fourth-quarter earnings report.
For the fourth quarter, the company posted $84.1 million in losses on $357.9 million in revenue. IRobot said it expects to see “muted” orders in the first quarter of 2023. IRobot is cutting employees while it’s in the process of being acquired by Amazon. The e-commerce giant announced last August it would buy iRobot for $1.7 billion, but the deal is still the subject of a Federal Trade Commission antitrust review.
IRobot is joining a stream of tech companies that have announced layoffs in recent months as rising interest rates and slowing consumer demand have triggered fears of a recession and spurred companies to cut costs. Amazon laid off roughly 18,000 corporate staffers, while Meta, Google, Salesforce, and others have announced significant job cuts.