BEDFORD, Mass., Feb. 13, 2023 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the fourth quarter and full year ended December 31, 2022.
- As a follow-on action to the company’s August 2022 restructuring of operations and in anticipation that market conditions will remain challenging into 2023, iRobot has initiated a new restructuring program that is expected to deliver net annualized savings of approximately $14 million. As part of this restructuring, the company plans to reduce its workforce by approximately 7%, or approximately 85 employees, primarily by streamlining certain functions across the company. In addition to the reduction in force, iRobot’s 2023 operating plan incorporates scaled back working media and other demand-generation activities, limited investment in non-robotic product categories and minimal new hiring plans in 2023.
