Digitech, Inc. to Close All Its US Operations and Close all of Its Online Stores in 2017

Digitech Inc. said on Thursday it plans to close all its US operations, close all of its online stores and close all U.S. digital storefronts by the end of the year.

The company’s shares are down more than 3% so far this year.

Digitech said the moves will help it to avoid the $2.5 billion in losses it forecast last year.

The company said it is also moving to cut its workforce by about 100,000 people, to about 4,000 by the year end.

Digitech is the fourth U.K.-based computer maker to close stores.

It has closed more than 40 in the past two years, most recently last month.

The UK government has banned the use of robots and other machines in the construction industry.