Yield10 Bioscience Says On Nov. 30, Approved Full Or Partial Furlough Of Approximately 65% Of Its Workforce; Most Furlough Workforce Are Located In Company's U.S. Facility
Portfolio Pulse from Benzinga Newsdesk
Yield10 Bioscience announced the approval of a full or partial furlough for about 65% of its workforce, with most affected employees based in the company's U.S. facility, as per their SEC 8K filing on Nov. 30.
December 06, 2023 | 9:35 pm
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Yield10 Bioscience has furloughed approximately 65% of its workforce, which could indicate cost-cutting measures or financial distress.
The furlough of a significant portion of Yield10 Bioscience's workforce suggests the company is looking to reduce expenses, which may be due to financial constraints. This action could worry investors about the company's financial health and future prospects, likely leading to a negative short-term impact on the stock price.
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