3D REVAMP NEARLY COMPLETE.Byline: Daily News VALENCIA - The Valencia-based 3D Systems Corp. has cut its work force worldwide by 103 employees and is closing two facilities in the U.S. as part of its reorganization. Facilities in Austin, Texas, and Farmington Hills Far·ming·ton Hills A city of southeast Michigan, an industrial suburb of Detroit. Population: 81,400. , Mich., are in the final stages of closure while the reorganization of 3D's other operations are near completion. Some employees from the facilities will relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to 3D Systems facilities in Valencia and Grand Junction Grand Junction, city (1990 pop. 29,034), seat of Mesa co., W Colo., at the junction of the Gunnison and Colorado rivers; inc. 1891. The shipping and processing center of a large ranch and irrigated farm region, it also serves the area's uranium, oil shale, gas, and , Colo. As part of the reorganization, 3D Systems reduced its number of employees from 523 to 420 worldwide. The company expects to record a charge of $3 million with the reorganization to cover one-time severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when costs, relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. and closure fees. The reorganization is expected to result in annual savings of $16 million. Brian K. Service will remain as chief executive officer of 3D Systems, which utilizes patented technologies to create three-dimensional objects from digital input. |
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