Boston Dynamics, famous for its iconic robots, lays off 5% of human employees, says it's 'Burning Through Cash'
Boston Dynamics, the extremely renowned robotics company which is known for its innovative robots like Atlas and Spot has actually laid off its 45 employees which accounts for approximately 5% of its workforce, reported Benzinga.
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According to Benzinga, this recent decision which is being confirmed by a spokesperson eventually affects nearly all its departments within the company. CEO Robert Playter also informed employees that in spite of the promising future of Boston Dynamics these cuts were extremely necessary to manage the cash flow while focusing on the profitability.
Adding onto that, he also put an emphasis on the need to streamline the operations as the company is currently ‘burning through cash’ faster than it is generating revenue.
Since the year 2021, Boston Dynamics has expanded its workforce nearly fourfold but at the same time, the challenge of monetizing its advanced robotics remains significant. While robots like Spot are being utilized in various industries such as security at Mar-a-Lago and search and rescue missions by fire departments, at the same time, competition is actually intensifying from other firms developing humanoid robots, asserted Benzinga.
The layoffs reflect broader economic pressures within the tech industry specifically for companies focused on cutting edge technology. In spite of such
