Roomba maker iRobot announces it's laying off 31% of employees after Amazon deal falls through
iRobot said Monday that a planned deal to be acquired by Amazon would not go through — a development that caused the Roomba floor vacuum maker to announce it would now lay off 31% of its staff.
IRobot, the maker of the Roomba floor vacuum, said Monday that a planned deal to be acquired by Amazon would not go through, a development that led it to announce it would lay off 31% of its staff.
In a release, the two companies said that the European Union was poised to block the deal and that there was "no path to regulatory approval," news that was first reported this month by The Wall Street Journal.
The breakup has prompted the resignation of iRobot Chairman and CEO Colin Angle.
The planned acquisition, which was first announced in August 2022, would have valued Massachusetts-based iRobot at $1.7 billion. Instead, iRobot shares were down as much as 19% in Monday trading.
iRobot said Monday it will pivot its focus away from “non-floorcare” products like air purifiers and lawn mowers.
Rating: 5