Brief: Ginkgo Bioworks Holdings On June 17 Began Implementing Restructuring Plan With Headcount Reductions

Ginkgo Bioworks Holdings

24/06/2024 22:23

June 24 (Reuters) - Ginkgo Bioworks Holdings Inc
 DNA.N :
    * GINKGO BIOWORKS HOLDINGS INC - ON JUNE 17 BEGAN
IMPLEMENTING
RESTRUCTURING PLAN WITH HEADCOUNT REDUCTIONS
    * GINKGO BIOWORKS HOLDINGS INC - EXPECTS RESTRUCTURING PLAN
TO
RESULT IN A TOTAL REDUCTION OF AT LEAST 35% OF THE WORKFORCE
    * GINKGO BIOWORKS HOLDINGS INC - CONTINUES TO EXPECT THE
HEADCOUNT
REDUCTIONS TO BE SUBSTANTIALLY COMPLETED IN 2025
    * GINKGO BIOWORKS-SEES INITIAL HEADCOUNT REDUCTIONS IN JUNE
2024
WILL RESULT IN CASH COSTS OF AT LEAST $12 MILLION IN SEVERANCE
AND RELATED SEPARATION COSTS
    * GINKGO BIOWORKS HOLDINGS INC - AGGREGATE EXPECTED COSTS
AND
OVERALL TIMING FOR COMPLETION OF THE RESTRUCTURING PLAN IS NOT
YET FULLY KNOWN

Source text for Eikon:  ID:n0001628280-24-029635 
Further company coverage:  DNA.N 

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