Quanergy Systems Lays off 72 people

Quanergy Systems Inc. plans to cut 72 jobs in Sunnyvale as part of the bankruptcy reorganization it filed for on Tuesday.

The struggling lidar business posted a WARN notice with the state Employment Development Department on Monday about the move.

The EDD notification was made a day before Quanergy filed for bankruptcy and announced its CEO will step down from his role at the end of the month.

The company last month said in a filing with the Securities and Exchange Commission that it planned an 11% reduction in its workforce, cutting 15 workers to get staffing down to 126 employees globally. But in this week’s bankruptcy filing, it said it had only 87 employees.

In this week’s WARN notice, Quanergy said it plans to begin its layoffs in Sunnyvale by Feb. 7 and complete them within 60 days after that date. Among those that are listed to lose their jobs are co-founder and Chief Development Officer Tianyue Yu, Chief Financial Officer Patrick Archambault, Chief Marketing Officer Enzo Signore and Senior Vice President of Operations Kevin Amiri.

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