Headlines Second Sight Lays Off 84, Plans to Wind Down Operations Amid COVID-19 Economic Shock The company cited problems securing financing. Published 10 months ago on March 31, 2020 By INVISION Staff Share Tweet LOS ANGELES — Second Sight Medical Products Inc., a maker of implantable visual prosthetics intended to create an artificial form of useful vision for blind individuals, said it is laying off 84 of its 108 employees and planning to wind down operations. The company (NASDAQ: EYES) said the moves are in response to the impact of the COVID-19 pandemic on its ability to secure financing. The job cuts were effective March 31. Advertisement Second Sight said in a press release: Against a background of unprecedented economic shock caused by the COVID-19 pandemic and inability to secure additional financing, the Company’s Board of Directors has evaluated strategic alternatives and decided to pursue an orderly wind down of the Company’s operations. The Company intends to retain an adviser experienced in winding down operations to guide the board on next steps. Any wind down activity, if implemented, will be subject to uncertainties. Additional layoffs are expected to be made at a later date based on the Company’s level of operations. The Company further announced that the Board of Directors appointed Matthew Pfeffer, a member of the Board and Chairman of the Audit Committee of the Board, as acting Chief Executive Officer to guide the Company through the transitional wind down period, instead of Gregg Williams, Chairman of the Board, as was previously announced. Related Topics:COVID-19Latest News Top click to Comment(Comment) Up Next ICU Eyewear Pivots to Make Face Masks, COVID-19 Test Kits, Other Equipment with Contour Optik Don't Miss Essilor International Gets New CEO INVISION Staff Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected]. Advertisement SPONSORED VIDEO SPONSORED BY TOPCON HEALTHCARE Perform Refraction from Anywhere with RDx Now more than ever, you need to grow your practice beyond your physical location and deliver quality eye exams from virtually anywhere. Topcon RDx® is an innovative ocular telehealth platform that allows you to connect to your office remotely and conduct comprehensive eye exams, without sacrificing the quality care you provide. You may like 2020 Holiday Sales Grew 8% Despite Pandemic, NRF Reports Ray-Ban® Authentic Eyecare Center Offers Free Laser Surgery for NFL Referee After Controversial Call Promoted Headlines Ray-Ban® Authentic Essilor Get More with Essilor Essilor 360° SUPPORT. 365 DAYS A YEAR. Essilor Advertisement Latest Trending Videos Press Releases14 hours ago 2020 Holiday Sales Grew 8% Despite Pandemic, NRF Reports Sponsored Content1 day ago Ray-Ban® Authentic Headlines3 days ago Eyecare Center Offers Free Laser Surgery for NFL Referee After Controversial Call Press Releases3 days ago ReFocus Eye Health Partners with Eye Center of Southern Connecticut Press Releases5 days ago DrChrono Expands Leadership Team and Celebrates Growth With Appointment of New SVP of Engineering and SVP of Revenue America's Finest 2019 Entries2 weeks ago America’s Finest: Before You Start America's Finest 2019 Entries3 weeks ago America’s Finest: Get Your Contest Entry in Great Shape America's Finest 2019 Entries2 weeks ago America’s Finest: Basic Info and Stats America's Finest 2019 Entries2 weeks ago America’s Finest: You Gotta Stand Out from the Crowd America's Finest 2019 Entries2 weeks ago America’s Finest: Photos Really Are Worth at Least a Thousand Words Sponsored Content1 day ago Ray-Ban® Authentic Sponsored Content7 days ago Get More with Essilor Sponsored Content1 month ago Perform Refraction from Anywhere with RDx Headlines3 months ago Video: Florida Man Invents Robot to Place Contact Lenses Headlines3 months ago Video: Some Retailers Board Up Due to Election Unrest Fears Advertisement SubscribeBULLETINS Get the most important news and business ideas for eyecare professionals every weekday from INVISION. Advertisement Most Popular Photo Gallery1 week ago 12 Images That Show Why Zionsville Eyecare in Zionsville, IN, Was Named One of America’s Finest Optical Retailers Press Releases1 week ago EnChroma Names Vision Industry Veteran Erik Ritchie as CEO Headlines3 days ago Eyecare Center Offers Free Laser Surgery for NFL Referee After Controversial Call Headlines6 days ago Massachusetts ODs Win Right to Treat Glaucoma Sponsored Content7 days ago Get More with Essilor Columns6 days ago 2021 Is a New Year… Let’s Make Your Marketing New, Too! Press Releases1 week ago Eco Helps Trees for the Future Reach 200M Trees Sponsored Content1 week ago 360° SUPPORT. 365 DAYS A YEAR.