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908 Devices ( (MASS) ) just unveiled an announcement.
908 Devices is undergoing a strategic shift by relocating its manufacturing operations from Boston to North Carolina and Connecticut, aiming for $2.4 million annual cost savings starting 2026. Concurrently, the company is implementing an 11% workforce reduction to streamline operations amid current market challenges, projected to save $4.2 million annually. Despite a 17% revenue growth in Q3 2024, driven by new handheld products, financial hurdles persist due to budget delays and market softness. These measures are part of broader efforts to enhance efficiency and capitalize on emerging growth opportunities.
See more data about MASS stock on TipRanks’ Stock Analysis page.
