AR company Avegant has replaced its CEO and laid off more than half its staff


Light-field display and “mixed reality” startup Avegant laid off a significant portion of its staff in recent weeks, and also replaced its CEO with one of the company founders, according to people familiar with the company’s operations.

Avegant’s headcount was reduced last month to fewer than 20 people, and those who remain work largely in R&D or on the technology partnership side. Prior to the layoffs, there had been somewhere between 40 and 50 employees, one person said.

Former chief executive officer Jeorg Tewes was also replaced by company founder Ed Tang in February, these people said, a change that also appears in both executives’ LinkedIn profiles.

When reached by phone, Tang declined to comment on the company’s organizational...

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via The Verge - Tech Posts "http://ift.tt/2FT6v1g"

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