Velo3D keeps laying off employees
The Atomic Layers: S3E14 (00070)
Atomic Layer of the Day:
Bad news continues to come from the Velo3D camp...
The California-based metal 3D printers manufacturer, plans to lay off 46 more employees by the end of 2024, affecting about 32% of its workforce. It is part of its ongoing efforts to cut costs and improve efficiency.
This follows a similar reduction in August 2024, when the company eliminated 63 jobs, reducing staff from 210 to 147. After this latest round of layoffs, Velo3D’s workforce will shrink to approximately 100 employees.
The company will incur costs between 1.3 to 1.5 million USD for severance and related expenses, which are expected to be paid by the end of 2024.
Atomic Layer from the Past:
10-14-2022: Sugar Lab bought itself out from 3D Systems.
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