Indie Semi CEO & founders take $1 salary; workforce cut by ~50

indie Semiconductor, Inc.

CEO McClymont, President Aoki, two other founders, CFO Schiller reduce salary to $1/year effective Sept 1, 2024 through Mar 31, 2025.
Acting CFO Raja Bal and other execs take 20% base salary reduction over the same period.
Company laid off ~50 employees in late August 2024 to improve operational efficiencies.
Severance and change-of-control benefits will be based on pre-reduction base salaries.

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