3D Printing News: Velo3D Reduces Workforce to Streamline Metal Additive Manufacturing Costs
Velo3D's Cost-Cutting Strategy in 3D Printing
In a significant move within the 3D printing sector, Velo3D has announced its decision to reduce its workforce by 30%, affecting around 63 employees. This decision comes in the wake of challenges faced from project delays in government-funded initiatives, prompting a reevaluation of their Metal Additive Manufacturing direction.
The Impact of Decision on Metal Additive Manufacturing
As the landscape evolves, Velo3D's strategic choices highlight the realities confronting startups in the additive manufacturing domain. The reduction in workforce aims to adjust to the primary objective of controlling escalating costs while continuing to innovate and lead within the 3D printing industry.
- Project Delays
- Workforce Reduction
- Financial Pressure
- Innovation Strategy
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