Stratasys announces a 10% workforce reduction
I just put up the post about no PLMish layoffs — and Stratasys puts out a press release that says that it will cut its global workforce by about 10%, mostly before the end of June and all by the end of the summer.
CEO Yoav Zeif says, “This reduction in force is a difficult but essential step in our ongoing strategic process, designed to better position the company for sustainable and profitable growth. I would like to express my appreciation to each of the employees impacted by this decision for their dedicated service. Current conditions make the job market even more challenging, and we have done our best to provide the departing employees globally with a respectable and fair separation. This measure is not expected to affect the progress on our forthcoming product launch plans, which remain a top priority as we lead the industry to new heights with our best-in-class additive manufacturing solutions.”
Stratasys believes this and other cost-reduction actions will save about $30 million a year.
Stratasys is PLMish in that its users have driven a lot of the development of additive-friendly design software — but it is in essence a hardware company. And that, right now, is a difficult place to be as many manufacturers are just now ramping back up in uncertain demand.