Complete Genomics Lays off 20 Percent of Workforce, Considers 'Strategic Alternatives' | GenomeWeb

Complete Genomics is laying off 20 percent of its workforce 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 about 55 employees in the field service and sequencing factory at its Mountain View, Calif., headquarters 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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