Latch, Inc. 8K

DOOR (formerly Latch, Inc.) is implementing a major restructuring, including a 32% workforce reduction and exit from property management operations, to cut costs by $10–$12 million annually and focus on its Building Intelligence platform.

On August 5, 2026, Latch, Inc., rebranded as DOOR, announced a restructuring plan that will reduce its global workforce by approximately 32% (about 65 roles, heavily concentrated in European contract labor and roughly 10% of its active U.S. employee base) and exit its underperforming DOOR Property Management operations, with these actions—together with earlier 2026 cost-saving measures—expected to lower annualized costs by approximately $10–$12 million while incurring an estimated $1.5–$2.5 million in cash restructuring charges, primarily for severance and benefits, mostly recognized in the third and fourth quarters of 2026 as the company refocuses capital and personnel on its Building Intelligence platform and AI‑assisted software initiatives to accelerate its path to profitability.

Filing Facts

CIK

1826000

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-091071

Alert Tier

7