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iRobot plans to lay off 7% of staff amid Amazon acquisition process

Yahoo Finance Live anchors discuss news that Roomba maker iRobot is planning to lay off 7% of its workforce.

Video transcript

BRAD SMITH: Layoffs are expanding to the iRobot, with the Roomba maker announcing it's going to be cutting 7% of its employees, equal to about 85 of 1,254 workers. This comes amid the company's acquisition process by Amazon iRobot. And Zumba, of course, the Zumba that you might have moving around your apartment or your home somewhere.

BRIAN SOZZI: Yeah, well, I think this is, of course, a reflection, I would imagine, of consumers going spending more on experiences than on stuff, like we've been talking about, to prices for these vacuums have gone higher as well. And oh, yeah, the housing market has slowed down. Put all that together-- I'm not shocked to see these layoffs here. But again, this deal's still not closed, not closed yet for Amazon. I think there's a lot of focus on them getting more access to our data.

JULIE HYMAN: And you were just looking at a study, what, from Jefferies that talked about people being worried that their jobs are going to be automated, although I don't know how many people are worried about Roomba taking their-- maybe they are. I don't know.

BRIAN SOZZI: Yeah, Jefferies noting in this particular survey 82% of those polled want-- will go out and get new skills if they fear that AI is going to take their job, which is pretty interesting.

JULIE HYMAN: It makes sense.