shares of desktop metal inc dm sank 43 in premarket trading monday after the massachusettsbased 3d printing company said it will lay off about 12 of its workforce as part of its costcutting plan based on 1370 employees the company had as of dec 31 the cuts could affect about 164 employees the company said its costcutting plan which will include facility consolidations and tighter product focus is projected to lead to annualized savings of about 40 million including 20 million of which is to take place in the second half of 2022 and lead to total cost savings of 100 million over the next 24 months the company expects to incur charges of 140 million related to the job cuts with about 11 million of the charges to be incurred in the second quarter todays announcement of our strategic integration and cost optimization initiative is the result of a comprehensive portfolio and business operations review conducted across all functions at desktop metal said chief executive ric fulop the stock has plunged 572 year to date through friday while the sp 500 spx has declined 182