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There’s going to be an emergency shut down
After the recent M&A and lay off at Velodyne Lidar, how’s the morale with employees of Velodyne? Tc- 100k #autonomous #auto #interview
Did you get to keep your options/RSUs after the merger?
Yep and people who were laid off got accelerated vesting
A majority of Velodyne employees were laid off, essentially there is no Velodyne anymore. Source : https://www.bizjournals.com/sanjose/news/2023/02/24/velodyne-cuts-ceo-hundreds-more-after-purchase.html
Omg! I can understand cutting CEO and other executives but what’s the point of acquisition if they are cutting the talent and engineers who work on actual product?
Ouster took out a direct competitor and gained a lot of cash and customers. I think over the next year they'll convert all Velodyne revenues to Ouster revenues and shut the Velodyne part of the business for good. The margins for Ouster products are better than Velodyne products.