Valens Semiconductor Cuts FY23 Guidance, Plans To Trim Headcount By 15%
Portfolio Pulse from Lekha Gupta
Valens Semiconductor (NYSE: VLN) has revised its FY23 guidance, cutting revenue outlook and planning to reduce headcount by 15% to improve operational efficiency. The company expects to save around $9 million annually in operating expenses and complete the plan by Q3 2023.

June 08, 2023 | 11:37 am
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Valens Semiconductor has lowered its FY23 guidance and plans to cut headcount by 15% to improve operational efficiency, potentially impacting its stock price.
Valens Semiconductor has revised its FY23 guidance, lowering revenue outlook and planning to cut headcount by 15% to improve operational efficiency. This move is expected to save around $9 million annually in operating expenses and complete the plan by Q3 2023. The lowered guidance and cost-cutting measures may negatively impact the company's stock price in the short term.
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