Posted on August 03, 2022
Desktop Metal Inc. said it is reducing its workforce by about 12% and consolidating facilities as it seeks to control costs after a string of acquisitions last year.
The company, which offers additive manufacturing technologies focused on the production of end-use parts, said it expects to take a one-time charge tied to termination benefits of about $14 million, most of which are expected in the second quarter of 2022. That doesn't include lease-termination costs, the company said.
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