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?
AM I NEXT? NO LOVE AT DOMTAR
Fort Mill, South Carolina-based Domtar Corporation, an integrated producer pulp and paper, has announced a $200 million cost-cutting plan which will see a reduction in force of a projected 780 jobs by the end of 2021.
A company spokesperson said, "Uncoated freesheet manufacturing operations will close at mills in Kingsport, Tennessee, and Port Huron, Michigan. The paper machine at an Ashdown, Arkansas, mill will close. So will a converting center in Ridgefields, Tennessee."
Following layoffs and the closing of the Kingsport Mill, the company will repurpose existing assets to "to enter the linerboard market with the conversion of the Kingsport paper machinery" The plant is scheduled to come online by the first quarter of 2023
“Repurposing the Kingsport mill provides Domtar with the best strategic entry point into a growing market with a very competitive, low-cost asset and represents a first step to building a large and cost-competitive business,” said John D. Williams, President and Chief Executive Officer. “Kingsport is well positioned to be the go-to supplier to independent converters for quality, service and innovation as the mill is less than a day’s drive from over 60 customers representing an addressable 3.9 million tons of annual containerboard demand.”
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?
AM I NEXT? NO LOVE AT VARIAN MEDICAL SYSTEMS
Palo Alto, California-based Varian Medical Systems, a designed and manufacturer of radiation devices for the medical treatment on cancer, has announced a reduction in force of approximately 101 employees company-wide. The layoffs at the company's Palo Alto headquarters will commence September 1, 2020.
According to a company spokesperson, “Sadly, it’s because of Covid-19 and the impact that it’s having on hospitals… and their ability to install our equipment and uncertainty around new orders. Of course, anything that impacts our employees, we take very, very seriously and with great deliberation. This is something that Varian hasn’t had to do very often.”
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?