Meta Materials (MMAT) to Cut 80% Staff
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Meta Materials Announces Workforce Reduction
May 3, 2024 4:07 PM EDTHALIFAX, NS / ACCESSWIRE / May 3, 2024 / Meta Materials Inc. (the "Company" or "META") (NASDAQ: MMAT), an advanced materials and nanotechnology company, today announced that the Company's Board of Directors approved a workforce reduction of approximately 80% of its employees, which is expected to be completed over the next few weeks. This difficult decision is in response to challenges associated with liquidity and securing additional financing.
The Company continues to evaluate all available strategic alternatives including, but not limited to, the divestiture of assets, additional financing security and/or the sale of the... More
