{"id":768677,"date":"2023-07-10T16:03:36","date_gmt":"2023-07-10T20:03:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/"},"modified":"2023-07-10T16:03:36","modified_gmt":"2023-07-10T20:03:36","slug":"latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/","title":{"rendered":"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth<\/b><\/p>\n<p class=\"bwalignc\"><i>The company plans to leverage Honest Day\u2019s Work\u2019s global workforce, reduce operational spend, and create a stronger foundation for growth.<\/i><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFollowing the completion of the Honest Day\u2019s Work (HDW) <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20230630347689%2Fen%2FLatch-Completes-Acquisition-of-Honest-Day%2525E2%252580%252599s-Work%26sa%3DD%26source%3Ddocs%26ust%3D1688566907188706%26usg%3DAOvVaw3jmsEZ1aiW2dlCgPwNrUFq&amp;esheet=53445249&amp;newsitemid=20230710679947&amp;lan=en-US&amp;anchor=acquisition&amp;index=1&amp;md5=4cd760bb5e6ba912fd959cb2114c05f3\">acquisition<\/a> earlier this month, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.latch.com&amp;esheet=53445249&amp;newsitemid=20230710679947&amp;lan=en-US&amp;anchor=Latch%2C+Inc.&amp;index=2&amp;md5=d6915c5f65536510a670c5acbe4a60b1\">Latch, Inc.<\/a> (NASDAQ: LTCH) today announced its commitment to enhancing operational discipline and efficiency within the organization. As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023.<\/p>\n<p>\nHDW\u2019s talent philosophy and global team have enabled Latch to quickly execute on cost savings, and the decreased U.S.- and Taiwan-based headcount should allow for additional cost cutting measures to be implemented on SaaS software licenses and other systems.<\/p>\n<p>\nThe goal of these strategic measures is to create a scalable foundation for growth. To that end, the company is unveiling a new leadership team alongside Jamie Siminoff, who is expected to become CEO later this year, including:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nLuciano Panaro, who is taking over as Chief Technology Officer;<\/p>\n<\/li>\n<li>\nDavid Lillis, based in St. Louis, who is starting as SVP of Finance on July 17, 2023 and who is expected to take over as Chief Financial Officer later this year;<\/p>\n<\/li>\n<li>\nClaire Duval, who is taking over as VP of Operations;<\/p>\n<\/li>\n<li>\nEugenia Adjigogovic, who is taking over as Head of People; and<\/p>\n<\/li>\n<li>\nChris Peckham, also based in St. Louis, who has <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20230607005514%2Fen%2FLatch-Announces-New-Head-of-Sales-and-Expands-Integrations-for-Streamlined-Property-Management-at-NAA-Apartmentalize-2023&amp;esheet=53445249&amp;newsitemid=20230710679947&amp;lan=en-US&amp;anchor=recently&amp;index=3&amp;md5=86706e19535361359f0126a18d977dc7\">recently<\/a> joined as Head of Sales.<\/p>\n<\/li>\n<\/ul>\n<p>\nAs Latch leverages a more efficient, remote global workforce, new U.S.-based roles that are most effective when co-located together will be based in St. Louis. This hybrid approach combines sourcing globally, allowing for remote work where appropriate, with a centralized office in St. Louis to build an efficient team that supports a sustainable business.<\/p>\n<p>\nSiminoff said, \u201cThese new measures are focused on creating the best foundation for growing the business long term. Discipline and efficiency are not only expected to save Latch millions of dollars but should also accelerate and simplify processes, both internally and externally. It is our responsibility to our customers to provide the best products and services at the lowest cost. Doing that should result in increased sales and profits, creating value for our stockholders.\u201d<\/p>\n<p>\nThe new leadership team will bring diverse backgrounds and a wealth of experience and knowledge to their positions and is uniquely suited to support Latch\u2019s future growth. After taking over as CFO later this year, Lillis is expected to oversee all financial functions of Latch, including financial planning, analysis, reporting, and treasury management. He will work closely with the executive team to streamline processes, drive cost optimization initiatives, and provide actionable insights to support informed decision-making.<\/p>\n<p>\n\u201cI\u2019m excited to join the Latch team on this journey as we embrace a more disciplined and efficient approach to business operations,\u201d said Lillis. \u201cI look forward to collaborating with the talented individuals at Latch to drive financial excellence and contribute to the company&#8217;s continued growth and success.\u201d<\/p>\n<p>\nTo learn more about Latch, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.latch.com&amp;esheet=53445249&amp;newsitemid=20230710679947&amp;lan=en-US&amp;anchor=www.latch.com&amp;index=4&amp;md5=f2d8e6a05658bd0a4d9de2be93fffc1c\">www.latch.com<\/a> or email Jamie Siminoff directly at <a rel=\"nofollow\" href=\"mailto:j@latch.com\">j@latch.com<\/a>. For sales inquiries email Chris Peckham at <a rel=\"nofollow\" href=\"mailto:chris.peckham@latch.com\">chris.peckham@latch.com<\/a>.<\/p>\n<p><b>About Latch, Inc.<\/b><\/p>\n<p>\nLatch makes spaces better places to live, work, and visit through a system of software, devices, and services. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.latch.com&amp;esheet=53445249&amp;newsitemid=20230710679947&amp;lan=en-US&amp;anchor=www.latch.com&amp;index=5&amp;md5=4cb7793b8d6d3a33fc038cb5d32fdf30\">www.latch.com<\/a>.<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p>\nThis release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words &#8220;believe,&#8221; &#8220;project,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;strategy,&#8221; &#8220;future,&#8221; &#8220;opportunity,&#8221; &#8220;plan,&#8221; &#8220;may,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;will continue,&#8221; &#8220;will likely result,&#8221; and similar expressions. Forward-looking information includes, but is not limited to, statements regarding: Latch\u2019s and HDW\u2019s future products, financial performance, strategies, and operations, and the related benefits to shareholders, customers, and residents; expected growth of demand for Latch\u2019s and HDW\u2019s future products and their adoption by customers; Latch and HDW\u2019s industry positions; Latch\u2019s acquisition of HDW (the \u201cAcquisition\u201d), the impact of the Acquisition and related transactions on the combined company, and the operating results of the combined company; the ability of Latch to successfully integrate HDW and realize the benefits of the Acquisition, including the expected performance of the combined company\u2019s management team; and the transition in Latch\u2019s CEO and CFO positions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: (i) the effect of the completion of the Acquisition on the ability of Latch to retain and hire key personnel and maintain relationships with customers, suppliers and others with which Latch does business, or on Latch\u2019s operating results and business generally; (ii) the risk that the Acquisition and the integration of HDW into Latch may involve unexpected costs or liabilities; (iii) the outcome of legal proceedings, if any, related to the Acquisition or otherwise, and the impact of the Acquisition thereon; (iv) Latch\u2019s ability to regain and maintain compliance with the listing standards of Nasdaq, and the impact of the Acquisition thereon; (v) Latch\u2019s ability to timely complete the ongoing restatement of its consolidated financial statements for 2019, 2020, 2021 and the first quarter of 2022, and the impact of the Acquisition thereon; (vi) Latch\u2019s ability to file its delinquent periodic reports with the Securities and Exchange Commission (the \u201cSEC\u201d) by August 4, 2023, and the impact of the Acquisition thereon; (vii) the expected performance of Latch\u2019s stock; (viii) Latch\u2019s ability to implement business plans; (ix) changes and developments in the industry in which Latch competes; and (x) Latch\u2019s response to any of the aforementioned factors. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the &#8220;Risk Factors&#8221; section of our Annual Report on Form 10-K filed with the SEC on March 1, 2022, and other documents subsequently filed by Latch from time to time with the Securities and Exchange Commission (the \u201cSEC\u201d). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Latch assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Latch does not give any assurance that it will achieve its expectations.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230710679947r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230710679947\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230710679947\/en\/<\/a><\/span><\/p>\n<p>\nInvestors:<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@latch.com\">investors@latch.com<\/a><\/p>\n<p>\nLatch PR:<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@latch.com\">press@latch.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Commercial Building &amp; Real Estate Technology Mobile\/Wireless Construction &amp; Property Security Other Technology Hardware Residential Building &amp; Real Estate Consumer Electronics<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230710679947\/en\/1837280\/3\/LatchLogo-WhiteSquare_%281%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth The company plans to leverage Honest Day\u2019s Work\u2019s global workforce, reduce operational spend, and create a stronger foundation for growth. NEW YORK&#8211;(BUSINESS WIRE)&#8211; Following the completion of the Honest Day\u2019s Work (HDW) acquisition earlier this month, Latch, Inc. (NASDAQ: LTCH) today announced its commitment to enhancing operational discipline and efficiency within the organization. As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023. HDW\u2019s talent philosophy and global team have enabled Latch to quickly execute on cost savings, and the decreased U.S.- and Taiwan-based headcount should allow for additional cost cutting measures to be &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-768677","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth The company plans to leverage Honest Day\u2019s Work\u2019s global workforce, reduce operational spend, and create a stronger foundation for growth. NEW YORK&#8211;(BUSINESS WIRE)&#8211; Following the completion of the Honest Day\u2019s Work (HDW) acquisition earlier this month, Latch, Inc. (NASDAQ: LTCH) today announced its commitment to enhancing operational discipline and efficiency within the organization. As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023. HDW\u2019s talent philosophy and global team have enabled Latch to quickly execute on cost savings, and the decreased U.S.- and Taiwan-based headcount should allow for additional cost cutting measures to be &hellip; Continue reading &quot;Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-10T20:03:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230710679947r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth\",\"datePublished\":\"2023-07-10T20:03:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/\"},\"wordCount\":1172,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230710679947r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\\\/\",\"name\":\"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth - 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NEW YORK&#8211;(BUSINESS WIRE)&#8211; Following the completion of the Honest Day\u2019s Work (HDW) acquisition earlier this month, Latch, Inc. (NASDAQ: LTCH) today announced its commitment to enhancing operational discipline and efficiency within the organization. As part of this strategic initiative, the company expects to reduce its current U.S.- and Taiwan-based workforce approximately 59% by November 1, 2023. HDW\u2019s talent philosophy and global team have enabled Latch to quickly execute on cost savings, and the decreased U.S.- and Taiwan-based headcount should allow for additional cost cutting measures to be &hellip; Continue reading \"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/","og_site_name":"Market Newsdesk","article_published_time":"2023-07-10T20:03:36+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230710679947r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth","datePublished":"2023-07-10T20:03:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/"},"wordCount":1172,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230710679947r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/latch-drives-additional-discipline-and-efficiency-setting-the-stage-for-accelerated-future-growth\/","name":"Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth - 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