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Wireless

Magic Leap raises USD 350 mln, suspends layoffs - report

Friday 22 May 2020 | 11:34 CET | News
US-based mixed reality handset maker Magic Leap managed to raise USD 350 million from existing and new investors, according to The Information citing a memo sent by CEO Rony Abovitz to employees. As a result, Abovitz withdrew the layoff notices sent to remaining staff in April. The company announced back in April that it would lay off half of employees, about 1,000, as part of its restructuring process. It's unclear how many employees have been made redundant so far. 

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Categories: Mobile & Wireless
Companies: Magic Leap
Countries: United States / World
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