Ginkgo Bioworks Holdings, Inc. (DNA): restructuring charge — Ginkgo Bioworks expands restructuring: at least 35% workforce reduction, $12M+ severance costs

Ginkgo Bioworks Holdings, Inc.

Workforce reduction expanded from 25% labor expense cut to 35% headcount reduction; implementation began June 17, 2024.
Expected cash costs of at least $12 million in severance and related separation costs for initial June reductions.
Substantially completed in 2025, subject to local laws; total costs not yet estimated.
Facility consolidation also planned as part of multi-year cost reduction plan.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Ginkgo Bioworks Holdings, Inc. announced a restructuring with charges of at least $12 million affecting workforce (at least 35% of the workforce).

Type: restructuring
Charge: at least $12 million
Affected area: workforce
Headcount: at least 35% of the workforce

Exact text from the filing

for completion of the restructuring plan is not yet fully known; however, the Company expects the initial headcount reductions in June 2024 will result in cash costs of at least $12 million in severance and related separation costs. The Company will provide further details at its earnings call for the second quarter of 2024 and its Quarterly Report on Form 10-Q for

View on SEC.gov

6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Ginkgo Bioworks Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-029635

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.