Flock Safety offers buyouts to all 1,500 staff, deadline 2 October
The licence plate camera company, valued at $8bn, has put a voluntary exit package in front of every employee as cities cancel contracts.
Flock Safety has offered a buyout to all 1,500 of its employees. Staff have until 2 October to decide.
The package includes healthcare and stock options, according to reporting on the offer. The company has described it as its most generous.
The sums have not been disclosed. The offer may run to tens of thousands of dollars per employee, on the account of the reporting.
Flock sells automatic licence plate reading cameras, largely to police forces and local government. It was last valued at $8bn.
That customer base is the problem. A growing number of cities and towns have cancelled or declined to renew contracts for the cameras.
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The Saturday Edition
One email, Saturday morning. A round-up of the week, perfect to go with your cup of coffee.
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