<ul><li>Luminar, a lidar systems company for autonomous vehicles, started laying off workers following the resignation of its CEO, Austin Russell.</li><li>The company initiated restructuring efforts on May 15th, which includes a reduction in workforce. Last year, it announced plans to cut 20 percent of its employees.</li><li>Luminar faced financial difficulties and was close to being delisted from the NASDAQ. It is known for providing lidar sensors to major car manufacturers.</li><li>The company appointed Paul Ricci as CEO after Russell's departure, with Russell staying on Luminar's board. The restructuring is expected to cost around $4 to $5 million.</li></ul>

Lidar maker Luminar lays off more workers following CEO exit

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