Latch to Cut US, Taiwan-Based Workforce by 59%; Sees Charges

Latch said it plans to reduce its current US and Taiwan-based workforce about 59% by Nov. 1.

• The company plans to leverage Honest Day’s Work’s global workforce and reduce operational spend
• Sees $5.3 million to $5.8 million as restructuring charges
• Jamie Siminoff to become CEO later this year; Luciano Panaro to take over as chief technology officer

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Hari Govind in San Francisco at hgovind@bloomberg.net

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Sunil Kesur at skesur@bloomberg.net

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