Illumina Cuts 5% of Its Workforce

Reuters2022-11-15

Illumina Inc(ILMN.O) said on Monday it was cutting 5% of its global workforce to realign its operating expenses as stubborn inflation and a strong dollar weigh on the genetic sequencing equipment maker's business.

The company said it was expecting to take a restructuring charge, which would include expenses related to optimizing its facilities, in the fourth quarter.

The layoffs come on the back of a near $4 billionimpairmentit took in the third quarter related to its cancer test unitGRAIL(GRAL.O).

The company, which is in the process of launching its next-generation NovaSeq X DNA sequencing systems, has over 9,100 employees globally, according to its website.

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Comments

nerdbull1669
2022-11-16
nerdbull1669
Ok
Bigman10
2022-11-15
Bigman10
[Facepalm]
NPC69
2022-11-15
NPC69
K
- NPC69:
  K
candyysk
2022-11-15
candyysk
Ok
CTG1956
2022-11-15
CTG1956
Ok
Jlhs
2022-11-15
Jlhs
Wow. First time

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