Market Chatter: Mobileye Trims Workforce to Focus on Long-Term Plans

MT Newswires Live12-09

Mobileye Global (MBLY) plans to lay off nearly 200 employees, about 5% of its workforce, with most of the affected positions based in Israel, Globes reported Monday.

This follows earlier workforce changes, including the shutdown of the company's lidar unit at the end of 2024, which resulted in layoffs of about 100 employees, the report said.

Mobileye, led by Chief Executive Amnon Shashua, said the job cuts reflect changing business needs and that it plans to support affected staff while continuing to hire for roles tied to its long-term plans, according to the report.

Shares of the company were down 2.4% in recent trading.

Mobileye Global did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 11.43, Change: -0.27, Percent Change: -2.35

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