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Monarch Tractor warns of up to 102 layoffs and possible shutdown
Monarch Tractor filed a California WARN notice for up to 102 permanent layoffs and warned employees of possible shutdown. The company pivoted from hardware manufacturing to software licensing of autonomy and other SaaS offerings, but CEO Praveen Penmetsa acknowledged the timing puts Monarch at risk of shutting down entirely.
- By 2025, over 70% of Monarch's revenue derived from software licensing, with expectations for growth in 2026.
- CEO stated the company lost its contract manufacturer and shifted to licensing strategy to unlock new revenue streams.
- WARN notice for 102 layoffs signals the company was unable to transition to the SaaS model fast enough to avoid collapse.