Magic Leap

Magic Leap avoids further layoffs with new $350 mm investment

Magic Leap, an augmented reality startup that laid off 1,000 employees (50%) last month, secured $350 million in a new investment round. As a result, the company will be able to prevent additional layoffs in the near future. (See? This site doesn’t only have bad news! 😸)

In late April, Magic Leap warned employees that a further staff reduction might be necessary if it wasn’t able to raise additional funding. Now, with $350 million more in the bank from existing and new investors, the company will be able to avoid the potential cut.

See below link πŸ‘‡for an opt-in list of Magic Leap employees laid off last month, including over 100 engineers.

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