LumiraDx gains on more job cuts

LumiraDx

06/04/2023 15:05

** Shares of diagnostics co LumiraDx Ltd  LMDX.O  rise 16.4%
to $0.64
    ** Co further reduces 40% of its global workforce, after
laying off 200 employees, equivalent to 16% of its global
workforce, in last December
    ** Releases cost restructuring program that is to result in
about $36 mln in annualised savings
    ** Says it continues to focus on operating cost reductions
    ** Including session gains, stock has lost about 38.9% YTD

 (Reporting by Vaibhav Sadhamta in Bengaluru)
 ((Vaibhav.sadhamta@thomsonreuters.com))