Latch rebrands as DOOR, cuts workforce 32% in restructuring plan

Cash restructuring charges are estimated at $1.5 million-$2.5 million, mostly expected in the third and fourth quarters of 2026.

Separations are expected to be substantially complete by the end of 2026 as the company shifts resources to its Building Intelligence platform.

Latch unveiled a restructuring plan to cut its workforce by about 32% and exit its property management operations.

Annualized cost savings are projected at $10 million-$12 million, extending earlier 2026 cost reductions to speed a path to profitability.

The plan eliminates about 65 roles globally, concentrated in contract labor support in Europe; about 10% of active U.S. employees are affected.