One week after reducing the base price of their Focals smartglasses by nearly 50 percent, wearables maker North is now reducing its workforce.
According to The Verge, the company has eliminated 150 jobs from its staff of more than 400 employees. The Nordic region confirmed the reduction on Friday, but it did not confirm the number of jobs cut.
"Over the past few years, we have grown rapidly to bring Focals to the market. These risks were the right choices at that time and helped us create a product that put in a new bar in our category of everyday smart glasses, "said Stephen Lake, CEO of North, in a statement sent to Next Reality. "In order to succeed in the long term, we are facing some tough decisions. We have decided to resign a number of employees yesterday to focus our resources and ensure that we have sufficient runway to carry out our future milestones over the next 18-24 months. This is a difficult decision, but a necessity for us to ensure long-term success. "
Since Focals requires a custom fitting, sales are limited to their outlets – the first being the brick and retail in New York and Toronto. The company has expanded its retail business to reach something with a series of pop-up stores, starting with Seattle this week, and continuing on to San Francisco and parts not known from there. According to a business advocate, the redundancies will not track the Nordic showroom tour.
"I am extremely grateful to anyone who has helped us get to where we are and our team will do all they can to make sure that everybody's colleagues land on their feet," says Lake. we are proud to have headquarters and manufacturing in Kitchener-Waterloo and will continue to make it our home. We are still planning to grow and build here over time. "
After racing out of the gate with first pair of smart smart glasses for consumers to hit the market, Nord has stumbled over the past few weeks, while the company stated that the price cut was that Make the product conform to consumer expectations on eyeglasses, it also suggests that sales were slow, a theory that gains strength through job reductions.
A few bumps and bruises do