By Ben Glickman
Personalis will cut up to 65 jobs in its second round of layoffs this year.
The Fremont, Calif.-based genomics company said in a regulatory filing Friday the workforce reduction would reduce operating costs and increase efficiency, saving about $14 million in fiscal 2024.
The company announced in January that its board had authorized a reduction of up to 30% of its workforce, citing similar reasoning. Personalis ended up cutting nearly 100 employees, according to regulatory filings, about a quarter of the 399 people it employed as of the end of 2022.
The further 65 job cuts mean Personalis may reduce its total workforce by about 41% from the end of 2022.
The company said Friday it expected to complete the layoffs by the end of January and would incur charges of about $4 million for severance payments and employee benefits.
Write to Ben Glickman at ben.glickman@wsj.com
Read the full article here
