North Lays Off 150 People
North, the company behind the futuristic smartglasses, has announced they are laying off 150 employees.
A recent Reddit post suggest the 150 layoffs are coming from the companies manufacturing department. On North's website, it states they employ around 400 people.
North is a newcomer to the tech space, as the company just launched its very first product in January. The smartglasses started at the $999 price point but were quickly decreased to $599. North says this price adjustment had nothing to do with the way the product is selling and is a way for the company to market the glasses to consumers looking to buy new glasses from a traditional store.
North also says it been "a great few months" between its first announcement and this recent price change, but one has to wonder if things are going so well why would the company layoff 150 people.
In 2018 the company worked to raise around $130 million in investments from companies like Amazon, Intel, and many top venture capitalists.
It seems almost certain that in the future Smartglasses will be a more significant part of peoples lives, similar to how smartwatches are, but the bigger question is which company can pull this off. North seems like a great company, but they have lots to learn when it comes to creating a successful consumer product. I foresee a future where they are merely bought up by a larger company like Google or Apple.
This reminds me a lot of Pebble. The company basically invented the smartwatch and funded it on Kickstarter, but in the end, they sold to Fitbit, and the product was killed off.
As a Canadian, I hope North can find a way to be successful, but right now I have my doubts, and these recent layoffs don't help change my opinion.