Brief: Fathom Digital Commits To Additional Actions To Continue, Expand Optimization Plan

Fathom Digital Manufacturing

24/02/2023 14:19

Feb 24 (Reuters) - Fathom Digital Manufacturing Corp
 FATH.N :
    * FATHOM DIGITAL MANUFACTURING CORP - ON FEBRUARY 17, 2023,
THE
COMPANY COMMITTED TO ADDITIONAL ACTIONS TO CONTINUE AND EXPAND
THE OPTIMIZATION PLAN
    * FATHOM DIGITAL MANUFACTURING CORP - ADDITIONAL ACTIONS
INCLUDE
CLOSING AND CONSOLIDATING A LOCATION IN TEXAS, REDUCING
WORKFORCE BY AN ADDITIONAL 14%
    * FATHOM DIGITAL MANUFACTURING CORP - ADDITIONAL ACTIONS
INCLUDE
PRIORITIZING INVESTMENTS AND OPERATIONS IN LINE WITH NEAR-TERM
REVENUE GENERATIO
    * FATHOM DIGITAL MANUFACTURING CORP -  UPDATED PLAN IS
EXPECTED TO
GENERATE ABOUT $19.5 MILLION IN NET PRE-TAX ANNUALIZED COST
SAVINGS UPON COMPLETION
    * FATHOM DIGITAL MANUFACTURING CORP -  CONTINUES TO
ANTICIPATE
THAT IMPLEMENTATION OF OPTIMIZATION PLAN WILL BE SUBSTANTIALLY
COMPLETE BY END OF Q2 2023

Further company coverage:  FATH.N 
 ((Reuters.Briefs@thomsonreuters.com;))