GlycoMimetics Anticipates Recognizing About $3.6M In Total Charges In Connection With Headcount Reduction, A Restructuring That Includes A Reduction In Company's Workforce By 26 Employees, Or ~80% Of Its Headcount
Portfolio Pulse from Benzinga Newsdesk
GlycoMimetics is set to recognize approximately $3.6 million in total charges due to a restructuring plan that includes reducing its workforce by 26 employees, which is about 80% of its total headcount.
July 30, 2024 | 7:58 pm
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GlycoMimetics will recognize $3.6 million in charges due to a significant restructuring plan that includes an 80% reduction in its workforce.
The significant reduction in workforce and associated charges indicate potential operational challenges and cost-cutting measures, which could negatively impact investor sentiment and the stock price in the short term.
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