Luminar Technologies shares are trading higher after the company announced additional actions under its 2024 restructuring plan that represent a cumulative full-time workforce reduction of 30%.
Portfolio Pulse from Benzinga Newsdesk
Luminar Technologies shares rose following the announcement of further actions in its 2024 restructuring plan, which includes a 30% reduction in its full-time workforce.
September 24, 2024 | 7:47 pm
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Luminar Technologies' stock price increased after the company revealed a 30% reduction in its full-time workforce as part of its 2024 restructuring plan.
The announcement of a significant workforce reduction is often seen as a cost-cutting measure that can improve financial performance, leading to a positive short-term impact on the stock price. The market reacted positively, as indicated by the rise in share price.
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