Monarch Tractor Layoffs
Industry Other · Location SF Bay Area · United States · Subscribe (RSS)
Monarch Tractor has 2 publicly reported layoff rounds on record between November 8, 2024 and November 19, 2025. A total of about 137 employees were affected across these rounds.
Layoff history
Monarch Tractor warned employees on November 19, 2025 that it planned to lay off up to 102 people and might shut down entirely if its business pivot did not succeed. The electric tractor startup, which had raised at least $220 million including a $133 million round in 2024, was abandoning tractor manufacturing to become a software licensing company. CEO Praveen Penmetsa noted that over 70% of Monarch's revenue already came from licensing in 2025, but said the transition timeline put the company "at risk of shut down." The planned cuts would hit California offices and remote teams in India and Singapore. The pivot followed the loss of contract manufacturer Foxconn earlier in 2025, a lawsuit from an Idaho dealer alleging defective autonomous tractors, and the departure of Tesla co-founder Mark Schwager in July. No severance terms were disclosed.
Reason: Pivot from hardware manufacturing to software licensing amid shutdown risk
Source: techcrunch.com
Monarch Tractor disclosed a workforce reduction affecting its SF Bay Area operations in November 8, 2024. Approximately 35 roles were eliminated.
Source: techcrunch.com
Data for Monarch Tractor is compiled from public WARN Act filings and reporting linked above. See our methodology.