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Amazon and iRobot have announced the termination of their merger plans due to opposition from EU antitrust regulators. iRobot is implementing a significant restructuring plan, including a workforce reduction of 31% and the departure of founder Colin Angle as CEO. Amazon's proposed $1.4 billion acquisition of iRobot was unable to gain regulatory approval in the European Union.
Amazon.com has abandoned its planned $1.4bn (€1.29bn) acquisition of Roomba maker iRobot after clashing with European Union regulators who had threatened to block the deal.
Glen Weinstein, iRobot's Executive Vice President and Chief Legal Officer, has been appointed Interim CEO, and Miller has been appointed Chairman of the Board. iRobot anticipates reporting full-year 2023 revenue of $891 million, a 25 per cent reduction as compared to the same period last year. �� iRobot Layoffs: After Amazon Terminates Acquisition Deal, Consumer Robot Maker Announces To Lay Off Around 350 Employees, Nearly 31% Workforce.
Agencies fine Amazon for “excessively intrusive” warehouse labor software, block acquisition of iRobot
IRobot announced a significant restructuring plan to reduce costs and said it would cut about 31% of its workforce, or 350 jobs. The company also said founder Colin Angle has stepped down as its CEO of the Roomba robot vacuum manufacturer.