Brief: NGM Biopharmaceuticals Inc - On April 3, Board Approved A Restructuring Of Company's Workforce

NGM Biopharmaceuticals

04/04/2023 21:15

April 4 (Reuters) - NGM Biopharmaceuticals Inc  NGM.O :
    * NGM BIOPHARMACEUTICALS INC - ON APRIL 3, BOARD APPROVED A
RESTRUCTURING OF COMPANY'S WORKFORCE
    * NGM BIOPHARMACEUTICALS INC - COMPANY'S WORKFORCE WILL BE
REDUCED
BY 75 PEOPLE, OR APPROXIMATELY 33% OF COMPANY'S EXISTING
HEADCOUNT
    * NGM BIOPHARMACEUTICALS INC - ESTIMATES THAT IT WILL INCUR
APPROXIMATELY $5.0 MILLION IN RESTRUCTURING CHARGES IN
CONNECTION WITH RESTRUCTURING
    * NGM BIOPHARMACEUTICALS INC - EXPECTS THAT MAJORITY OF
RESTRUCTURING CHARGES WILL BE INCURRED IN Q2 OF 2023
    * NGM BIOPHARMACEUTICALS INC - EXECUTION OF RESTRUCTURING,
INCLUDING CASH PAYMENTS, WILL BE SUBSTANTIALLY COMPLETE BY END
OF Q2 OF 2023


Further company coverage:  NGM.O 

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