Construction technology company Katerra is laying off 117 workers in Seattle, according to the state Employment Security Department, following reports Tuesday that the California-based venture is shutting down despite having raised about $2 billion from backers such as Japanese mega-investor SoftBank.
A WARN notice filed with the employment department gives June 4 as the date for the job losses, attributing them to closure.
Katerra, which operates in several U.S. markets and in nations from India to Saudi Arabia, is about to close everything cited an unidentified person familiar with its plans. Katerra “had promised to shake up the construction industry with its efficient factories, prefab parts, and modular construction units.”
Katerra established a 270,000-square-foot factory for cross-laminated timber in Spokane, opened in 2019, and described as the largest in North America.
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