---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-006107"
form_type: "8-K"
ticker: null
cik: "0001754820"
company_name: "Desktop Metal, Inc."
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:21:10.943858+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Desktop Metal announces 20% workforce reduction, $50M cost savings plan to improve profitability

## Summary
- Workforce reduction of ~20%; anticipates at least $50M in annualized cost savings.
- Pre-tax restructuring charges estimated between $24.3M and $31.5M, with $5.3M to $7.5M cash expenditures.
- Facilities consolidation and product rationalization included; majority of cuts completed by end of Q1 2024.
- This adds to $100M in cost reductions realized in 2023; aim is positive cash flow and profitability.

## SEC filing metadata
- accession: 0001104659-24-006107
- form_type: 8-K
- cik: 0001754820
- company_name: Desktop Metal, Inc.
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1754820/000110465924006107/0001104659-24-006107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1754820/000110465924006107/tm243949d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-006107
- JSON: https://secwatch.observer/filing/0001104659-24-006107.json
- Plain text: https://secwatch.observer/filing/0001104659-24-006107.txt

## Key facts
- Restructurings & Charges
  Desktop Metal, Inc. announced a restructuring with charges of $24.3 million to $31.5 million affecting global (approximately 20%).
  - Type: restructuring
  - Charge: $24.3 million to $31.5 million
  - Affected area: global
  - Headcount: approximately 20%
  source text: resulting in sequential cost reductions across the first half of 2024. The Company expects it will incur total pre-tax restructuring charges related to the Initiative of between $24.3 million to $31.5 million, which includes between $5.1 million and $6.5 million of estimated one-time termination benefits and associated costs, between $19.0 million and $24.0 million of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1754820/000110465924006107/0001104659-24-006107-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.