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Latch, Inc., rebranded as DOOR, announced a restructuring plan to streamline operations and reduce costs by exiting…
LTCHWLatch, Inc.
Latch, Inc., rebranded as DOOR, announced a restructuring plan to streamline operations and reduce costs by exiting its Property Management business and reducing its global workforce by approximately 32%, impacting about 65 employees. The reduction in force begins August 5, 2026, with completion expected by the fourth quarter of 2026. The company estimates total cash restructuring charges between $1.5 million and $2.5 million, primarily for severance and benefits, to be incurred in the third and fourth quarters of 2026. These actions are projected to reduce annualized costs by approximately $10 million to $12 million, accelerating the path to profitability as the company focuses on its Building Intelligence platform. Latch, Inc. operates in the building technology industry, providing hardware, software, and automated services for property management.