EXCLUSIVE–MUST CREDIT EDISONREPORT. EdisonReport can confirm that there was an administrative layoff at EYE Lighting affecting less than 10 people. We spoke to Greg Barry, President and CEO, who confirmed the layoff. Greg explained that soft conditions in the C&I market led to the layoffs–a theme we hear from many companies. EYE is also a major player in the horticulture market which is still about 90% HID. Greg stated that California product 13.8 tons of cannabis in 2017, and the market demand was only 2.6 tons.
He also explained that EYE was strategically restructuring to be well-poised once the C&I and Horticulture businesses return.
In addition, like several other companies his size, EYE will not exhibit at LIGHTFAIR this year and will use those funds to attend more regional shows.