Brief: Tocagen Begins Restructuring Plan That Includes Cutting Workforce By About 65%

Forte Biosciences

03/10/2019 11:25

Oct 3 (Reuters) - Tocagen Inc  TOCA.O :
    * TOCAGEN INC - COMMENCED A CORPORATE RESTRUCTURING PLAN
THAT
INCLUDES REDUCING ITS WORKFORCE BY APPROXIMATELY 65%
    * TOCAGEN INC - ESTIMATES THAT RESTRUCTURING PLAN WILL INCUR
A
ONE-TIME PERSONNEL-RELATED RESTRUCTURING CHARGES OF
APPROXIMATELY $1.0 MILLION
    * TOCAGEN INC - AFFECTED EMPLOYEES WERE INFORMED ON OCTOBER
2,
2019
    * TOCAGEN INC - REDUCTION OF WORKFORCE BY ABOUT 65%,
RESULTING IN
ABOUT 30 REMAINING FULL-TIME EMPLOYEES BY END OF YEAR

Source text: (http://www.sec.gov/Archives/edgar/data/1419041/000156459019036313/0001564590-19-036313-index.htm)
Further company coverage:  TOCA.O 

 ((Reuters.Briefs@thomsonreuters.com;))