Reasons for layoffs at iRobot
Acquisition failed, there is going to layoff Acquisition passed, there is also going to layoff What is the real reason for this inevitable layoff?
IP or patent
Their products suck. Roborock is 1000x better
Bingo
Problem with iRobot is they were never profitable and bleeding $$ as they tried to chase growth trying to satisfy investors. Companies like this are better off being a private company like Dyson.
They have one of the worst set of recruiters and hiring processes that I have seen so far. To add to that, their products are over-engineered and over-priced relative to comparable products from their competitors. Their market share has dropped from 64% to 46% over the last 4 years.
What is the growth of the market size? It's ok if the market has doubled and their share dropped.
see https://youtu.be/sZDSvY04gQc?si=hxoW5w64wiG4EBM0 at 11:39
They have to pay back money to their loan shark investors. That’s why they laying off bro. They can’t borrow money at 0 APR anymore.
People not buying costly products?