E Point Perfect
News

San Diego-Based Genomics Company Illumina Cuts 5% of its Global Workforce


Illumina building
A building on the Illumina Campus in University City. Reuters/Mike Blake

Illumina 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 San Diego-based genomics pioneer 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 billion impairment it took in the third quarter related to its cancer test unit GRAIL.

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.



Source link

Related posts

Get Out Now, Storm to Spread Rain, Mountain Snow Across Southern CA

San Diego’s Homeless Enforcement May Violate Court Orders, Attorneys Argue

Girl, 1, Seriously Injured by Suspected DUI Hit-Run in Castle Neighborhood

Firearms Given Up for Gift Cards at Sheriff’s Exchange in La Mesa

Firefighters Knock Down Brush Fire Near U.S.-Mexico Border

Frustration Over COVID, Unions, Politics Spurs California Parents to Run for School Boards