Cibus Approves Strategic Realignment, Which Includes An Immediate Reduction In Workforce Of ~26 Full-Time Employees, Estimates That It Will Incur ~$0.35M Of One-Time Costs In Q4 2024 In Connection With This Reduction In Workforce, Primarily Related To Accrued Vacation And Severance Payments
Portfolio Pulse from Benzinga Newsdesk
Cibus has announced a strategic realignment that includes an immediate reduction of approximately 26 full-time employees. The company estimates incurring around $0.35 million in one-time costs in Q4 2024 related to this workforce reduction, primarily for accrued vacation and severance payments.
October 18, 2024 | 8:29 pm
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Cibus is undergoing a strategic realignment, resulting in a workforce reduction of about 26 employees. This move will lead to approximately $0.35 million in one-time costs in Q4 2024, mainly for accrued vacation and severance payments.
The strategic realignment and workforce reduction indicate potential cost-saving measures but also involve immediate costs and potential operational disruptions. This could lead to short-term negative sentiment among investors.
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