Second Sight announces employee layoffs, intention to wind down

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Second Sight Medical Products will lay off 84 of its 108 employees due to the global COVID-19 outbreak, according to a press release.

The manufacturer of implantable visual prosthetics cited the pandemic’s effect on its ability to secure financing as the reason for the layoffs. In addition, an orderly wind down of company operations is planned, with additional layoffs possible depending on operation levels, the release said.

The board of directors announced Matthew Pfeffer, chairman of the audit committee of the board, will act as CEO through the wind down.