Monarch Tractor lays off 10% in restructuring towards software and licensing AV tech

Quick Summary:

Monarch Tractor has laid off around 10% of its workforce as part of a restructuring that will see it prioritize non-agricultural customers, license its autonomous technology, and boost sales of its AI-powered farm management software, TechCrunch has learned.

It’s the second cut this year; Monarch previously laid off around 15% of its workforce in July.

It’s also putting more focus on selling its “WingspanAI” farm management software.

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Article Details

Author / Journalist: Sean O'Kane

Category: StartupsBusiness

Markets: United States

Topics: Layoffs Startups Monarch tractor Transportation Autonomous vehicles Exclusive

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 20:39:30 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23560766

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