Modular Medical lays off 29% of workforce to cut annual costs by $3.4M

Modular Medical, Inc.

Layoff of 20 positions, representing ~29% of total workforce, effective March 12, 2026.
Expected annual operating expense reduction of approximately $3.4 million.
Non-recurring charges estimated at $0.1M–$0.2M, mainly severance; majority by June 30, 2026.
Company prioritizing higher-ROI projects to reduce cash burn.

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