iRobot, the manufacturer of the Roomba brand of robotic vacuum cleaners, has announced immediate plans to restructure its business following Amazon’s cancellation of a $1.7 billion deal. This restructuring will result in the elimination of approximately 350 positions, accounting for 31% of the total workforce.
In addition, Colin Angle, the CEO and chairman of iRobot, will step down from his position. Glen Weinstein, the deputy chairman and head of the legal department, will temporarily take over as CEO, while Andrew Miller, the head of the independent board, will become the new chairman.
iRobot has also revealed plans to control expenses and maintain profit margins by discontinuing all product development and research projects unrelated to floor care. This includes air purifiers, lawn mowing robots, and robot coding education platforms.
TLDR: iRobot, known for its Roomba vacuum cleaners, is restructuring its business after Amazon canceled a $1.7 billion deal. This includes laying off 350 employees, replacing the CEO and chairman, and halting non-floor care related product development and research.
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