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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