Brief: Illumina Implemented Cost Reduction Initiative in Q2 Included Workforce Reductions, Consolidation Of Certain Facilities

Illumina

16/02/2024 23:06

Feb 16 (Reuters) - Illumina Inc  ILMN.O :
    * ILLUMINA- IN Q2 2023 IMPLEMENTED COST REDUCTION INITIATIVE
INCLUDED WORKFORCE REDUCTIONS, CONSOLIDATION OF CERTAIN
FACILITIES TO REDUCE EXPENSES
    * ILLUMINA- ON JAN 18, GOT CIVIL INVESTIGATIVE DEMAND FROM
U.S.
DOJ
    * ILLUMINA- CID REQUIRING PRODUCTION OF INFORMATION IN
COURSE OF
FALSE CLAIMS ACT INVESTIGATION TO SEE WHETHER THERE IS VIOLATION
OF 31 U.S.C. § 3729
    * ILLUMINA- IN 2023, RECORDED $152 MILLION RESTRUCTURING
CHARGES
CONSISTING OF ASSET IMPAIRMENT CHARGES RELATED TO
FACILITIES,EMPLOYEE SEPARATION COSTS
    * ILLUMINA- FALSE CLAIMS ACT PROBE CONCERNS ALLEGATIONS CO
CAUSED
SUBMISSION OF FALSE CLAIMS TO MEDICARE AND OTHER FEDERAL
GOVERNMENT PROGRAMS
    * ILLUMINA-  CO IS PREPARING ITS RESPONSE & COOPERATING WITH
GOVERNMENT WITH REGARDS TO FALSE CLAIMS ACT PROBE

Source text for Eikon:  ID:n0001110803-24-000010 
Further company coverage:  ILMN.O 

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