Mobileye Global Inc. Tightens Belts: Announces 5% Layoff Amidst Challenging Market
Mobileye Global Inc. (NASDAQ: MBLY) announced a major restructuring plan, cutting 200 jobs, or 5% of its global workforce, with a focus on its Israel-based operations. This cost-cutting measure is in response to decreased demand in advanced driver-assistance systems and delayed launches impacting the company's stock value, which dropped over 40% year-to-date. While bracing for a tough transition year in 2025, Mobileye is making strategic hires to support future technology goals, including robotaxi advancements for 2026.
Dec 29