ZymoGenetics to cut workforce by 32%
Seattle, USA-based ZymoGenetics has announced a reduction in its workforce of around 32%, or 161 employees, as part of a corporate restructuring. The company is reorganizing its operations to focus resources on assets with the potential to generate the greatest value for shareholders. It expects to realize an annual reduction in operating expenses of approximately $30.0 million beginning in the third quarter as a result of these actions.
"We're taking steps to reduce our costs, align our spending with our highest corporate priorities and conserve our financial resources," said chief executive Douglas Williams.
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