80% workforce reduction at Meta Materials due to liquidity and financing challenges.
Meta Materials Inc., a NASDAQ-listed advanced materials and nanotechnology company, announces a workforce reduction of 80% due to liquidity and financing challenges. The reduction is expected to be completed within weeks. The company is exploring strategic alternatives such as asset divestiture, additional financing, or selling itself. Without more funds, Meta Materials may face shutdowns and bankruptcy.
May 03, 2024
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