News Summary

• Autonomous electric tractor startup Monarch Tractor warned staff Thursday it may need to lay off more than 100 employees, or possibly even “shut down” Monarch told employees in the memo it may permanently lay off “up to 102 employees” The company raised at least $220 million, including $133 million in 2024, as it pursued a goal of making “driver optional” autonomous tractors that could perform tasks at places like wineries and other fruit farms.
• The company announced a restructuring in late 2024 that was supposed to see its tractors expand to other use cases, like pushing feed at dairy farms and maintaining golf courses.