Luminar Technologies is laying off 20% of its workforce, according to a company memo reviewed by Barron’s. “We stand at the crossroads of two realities: the core of our business has never been stronger across technology, product, industrialization, and commercialization; yet at the same time, the capital markets perception of our company has never been more challenging,” reads part of the company-wide communication from CEO Austin Russell. “These kinds of decisions are never easy, and we’re taking steps to provide significant support for our exiting employees,” added Russell.