CVD Equipment Names Warren Cheesman Acting CEO As Company Halts New System Orders, Cuts Workforce ~50% And Restructures Operations; Expects To Record A Restructuring Charge Of ~ $800K-$1M This Quarter, Consisting Primarily Of Employee Severance And Related Costs
CVD Equipment Corporation (NASDAQ:CVV) (the "Company") today announced a restructuring plan and leadership transition, following a thorough evaluation of strategic alternatives for its CVD equipment business by
CVD Equipment is making big changes: a new leader, fewer workers, and no new orders right now. When a company does this, watch to see if it helps them get healthy again or if problems keep going.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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