South Carolina-based company 3D Systems Inc. is currently preparing to close its facility in Andover, Massachusetts, resulting in a lay-off of around 80 to 85 employees, including engineering and software teams.
The move to permanently close 3D System’s Andover-based office by mid-2016, was reported in a letter sent to state regulators back in October.
“This closure is the result of a strategic decision to consolidate operations, among other things,” stated a company executive in the filing, according to the Boston Globe. “3D Systems Inc. will be helping Andover employees during this transition, including offering relocation options as available.” The company has plans to relocate many of the employees to other facilities.
While the 3D Systems’ share has plunged from over $96 in January 2014 to around $ 9 last week, CEO and President Avi Reichental has left the company after a mutual agreement with the board about a month ago. The company is currently also fighting a $ 11 million arbitration fee lawsuit from Print3D.