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Keyword: tradecommission

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  • US Company Forced To Lay Off Hundreds After Regulators Signal Plans To Block Merger

    01/30/2024 6:19:49 AM PST · by Red Badger · 51 replies
    Daily Caller ^ | January 29, 2024 4:33 PM ET | Jason Cohen, Daily Caller News Foundation
    Technology company iRobot is undergoing major layoffs after the Federal Trade Commission (FTC) and European regulators opposed its acquisition by Amazon on Monday, multiple outlets reported. Amazon had planned to acquire iRobot, which is most known for making robot vacuums, but the deal could not go through because of regulatory hurdles, according to a press release announcing the termination. iRobot immediately disclosed impending layoffs affecting about 350 employees, constituting 31% of its total workforce, after the termination announcement. The companies primarily attributed the dissolution of the deal to the European Union (EU), stating in the press release that “Amazon’s proposed...