Smart lock maker Level has been gutted and its founders are out

Level’s defining innovation was hiding the battery, motor, and electronics that power the smart lock inside the deadbolt itself. | Photo by Dan Seifert / The Verge

Assa Abloy has laid off the majority of staff at Level Home, the smart lock company known for building smart tech into traditional-looking deadbolts, and is folding the business into Kwikset, according to a source familiar with the decision.

The Verge obtained exclusive details from a person familiar with the restructuring who requested anonymity as they were part of the layoffs. They shared an audio recording of a meeting in which Peter Boriskin, CTO for Assa Abloy North America, and Kimberly Cummins, head of North American HR, informed the majority of the staff that their positions had been eliminated, effective immediately, as "a part of …

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