NEW YORK (GenomeWeb News) – Complete Genomics is laying off 55 employees in order to reduce its cash burn and has hired a financial advisor to explore strategic alternatives, the company said today.

The layoffs, which will affect employees in its field service and sequencing factory, both in Mountain View, Calif., and other US locations, will be substantially completed by June 30. The company expects restructuring costs of approximately $1.5 million, mostly in termination benefits, that will be recorded this quarter.

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