By Sabela OjeaOuster said Thursday it is reducing the size of its workforce as it implements additional restructuring measures. The provider of lidar sensors for the automotive, industrial and robotics industries didn't disclose how many employees would lose their jobs. Ouster reiterated its guidance for the second quarter and said it is on track to book annualized merger-related cost synergies of at least $80 million to $85 million by the end of the fourth quarter. Ouster and Velodyne completed a merger in February. Write to Sabela Ojea at sabela.ojea@wsj.com(END) Dow Jones Newswires06-22-23 1809ET

Source: Wall Street Journal June 23, 2023 10:14 UTC