Saratoga, California-based Mojo Vision, a medical technology company specializing in augmented reality contact lenses, has announced a major 75% reduction in force and putting its contact lens production "on hold."
The reduction in force will impact 110 employees.
According to CEO Drew Perkins, “Although we haven’t had the chance yet to see it ship and to reach its full potential in the marketplace, we have proven that what was once considered science fiction can be developed into a technical reality Even though the pursuit of our vision for Invisible Computing is on hold for now, we strongly believe that there will be a future market for Mojo Lens and expect to accelerate it when the time is right.” He also noted “significant challenges in raising capital.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?