Brief: Synlogic Says Realignment Is Estimated To Reduce Company's Workforce By About 25%

Synlogic

30/11/2022 21:51

Nov 30 (Reuters) - Synlogic Inc  SYBX.O :
    * REALIGNMENT IS ESTIMATED TO REDUCE COMPANY'S WORKFORCE BY
APPROXIMATELY 25%
    * ESTIMATES THAT IT WILL INCUR APPROXIMATELY $0.8 MILLION OF
COSTS
IN CONNECTION WITH REDUCTION IN WORKFORCE
    * EXPECTS MAJORITY OF COSTS ASSOCIATED WITH STRATEGIC
REALIGNMENT
TO BE INCURRED DURING Q4 ENDING DEC 31, 2022 AND Q1 ENDING MARCH
31, 2023
    * ON NOV 28, 2022, BOARD, FOLLOWING STRATEGIC REVIEW OF
BUSINESS,
APPROVED, AND ITS MANAGEMENT IS IMPLEMENTING, A REDUCTION IN
WORKFORCE

Further company coverage:  SYBX.O 
 ((Reuters.Briefs@thomsonreuters.com))