Katerra Inc., a modular construction startup, got an $865 million cash infusion from investors led by SoftBank Group Corp. last year. Now, the company is shutting down a factory in Phoenix and cutting 200 jobs.
The move will shift Katerra’s manufacturing away from Phoenix and into its highly automated and lower-cost factory in Tracy, California.
— Bloomberg
The company's mission is to "shake up the construction industry with a combination of efficient factories, prefab parts and modular construction units," Bloomberg reports. The Phoenix factory will remain open thorugh the end of the year and affected employees will receive a 90-day severance package.
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december 12, 2020: "Construction startup Katerra struggling to expand due to shortage of skilled workers. 'We just can't find enough skilled tradespeople to assemble our products. I just don't understand how this country doesn't invest in its workforce!'"
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