Stratasys Board Authorizes Share Repurchase Program - Quick Facts
(RTTNews) - Stratasys (SSYS) announced that its Board has authorized a share repurchase program allowing for the repurchase of up to $50 million of its ordinary shares. The authorization is part of a number of strategic actions the company is taking to enhance shareholder value. The company expects to fund repurchases with cash on its balance sheet and ongoing cash flow generation.
Stratasys said its previously announced restructuring efforts are expected to produce approximately $40 million in annual cost savings beginning in the first quarter of 2025. The initiatives include rightsizing the company's workforce by approximately 15% by the end of the year.
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