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DOOR cuts approximately 32% of its workforce and exits property management
Confirmed reporting
Latch, now operating as DOOR, approved a restructuring affecting approximately 65 employees and service providers, or about 32% of its workforce. The company is also exiting its property-management business and expects annualized savings of $10 million to $12 million.
Candidate interpretation
A reduction of nearly one-third of the workforce is a severe stability warning. Contract support in Europe and about 10% of active U.S. employees are affected, while management expects AI-assisted tools to support a smaller engineering organization; candidates should assume significant scope and workload changes until a team proves otherwise.