AM I NEXT? NO LOVE AT 3D SYSTEMS

Rock Hill, South Carolina-based 3D Systems, one of the original companies providing 3D printing hardware, software, materials and services, is continuing a cost-reduction program targeting $100 million in costs by the end of 2021. The plan calls for a 20% headcount reduction by the end of 2020 which will impact approximately 400 employees.

According to recently-named President and CEO Jeffery Graves...

“To accelerate value creation for our customers, we are simplifying and focusing our organization by realigning the company’s breadth of capabilities into two key market verticals - Healthcare and Indus trials. Each of these teams will drive application specific solutions within these market verticals.”

"In connection with this organizational realignment we have an opportunity to maximize efficiencies with a need to align our operating costs with current revenue levels. As such, we will reduce our workforce by nearly 20%, with the majority being completed by year-end."

"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."

The company expects the resizing effort, in conjunction with other cost reduction measures, to reduce annualized costs by approximately $100 million by the end of next year. This should enable the company to be profitable at current revenue levels and be well positioned to leverage the sales growth as it returns. Other cost reduction efforts include reducing the number of facilities and examining every aspect of the company’s manufacturing and operating costs."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?