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Technology / AI and automation

ADAGE CUTS WORKFORCE 25%

Adage Inc, Billerica, Massachusetts is scything through its workforce in the wake of lower than expected sales for the six months to September and no signs of upturn. The workstation builder is cutting its worldwide workforce by 119 people, 25%, a move that also in part reflects integration of its CGX Corp acquisition. Some product lines may also be dropped as it majors on CAD/CAM and Command & Control. The firm will also close its Raleigh, North Carolina facility. After taking charges and provisions for the closures and the staff reductions, Adage reported a second quarter net loss to September 26 of $3.1m. Turnover rose just 3.3% to $10.8m.

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CBR Staff Writer

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