Turnstone Biologics Plans Restructuring By Reducing Employee Headcount By Approximately 60%
Portfolio Pulse from Benzinga Newsdesk
Turnstone Biologics is planning a major restructuring by reducing its workforce by approximately 60%. This move is likely aimed at cutting costs and refocusing the company's resources.
October 11, 2024 | 10:00 am
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Turnstone Biologics is undergoing a major restructuring, reducing its workforce by 60% to cut costs and refocus resources.
The significant reduction in workforce suggests financial challenges or a strategic pivot, which could lead to short-term stock price pressure as investors react to the news.
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