Brief: Greenlight Biosciences To Reduce Company’S Workforce By Approximately 25%

Greenlight Biosciences Holdings PBC

12/10/2022 12:01

Oct 12 (Reuters) - Greenlight Biosciences Holdings PBC
 GRNA.O :
    * GREENLIGHT BIOSCIENCES ANNOUNCES REDUCTION OF THE
COMPANY’S
WORKFORCE BY APPROXIMATELY 25%
    * THE IMPACTED EMPLOYEES’ SEPARATION FROM THE BUSINESS IS
EXPECTED
TO OCCUR BY THE END OF OCTOBER 2022
    * REDUCTIONS IN HEADCOUNT ARE EXPECTED TO GENERATE SAVINGS
OF
ABOUT $13.0 MILLION IN DIRECT EMPLOYEE COSTS IN 2023
    * ON OCTOBER 11, 2022, COMMITTED TO A RESTRUCTURING PLAN TO
EXTEND
CASH RUNWAY AND REALIGN OPERATING COSTS
    * EXPECTS TO INCUR PRE-TAX RESTRUCTURING CHARGE IN Q4 OF
2022
WITHIN THE RANGE OF $1.5 MILLION TO $2.0 MILLION

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