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Story summary
- Mobileye is laying off around 200 employees, primarily in Israel, to streamline operations.
- The layoffs come after a 40% drop in market value to about $9.5 billion due to decreased chip orders, a consequence of inventory buildup from 2024.
- Mobileye plans to hire for critical roles to support future development.
- Amnon Shashua, Mobileye CEO, said workforce adjustments are needed based on evolving company requirements.
