other material
confidence high
sentiment negative
materiality 0.55
10x Genomics to cut ~8% of workforce; expects $5-6M in severance costs
10x Genomics, Inc.
- Reduction in force affecting approximately 8% of global workforce.
- Estimated costs of $5M to $6M, primarily cash severance, to be recognized in Q3 2022.
- Company cites need to decrease costs and maintain streamlined organization.
- Actual costs may differ and additional costs not currently contemplated may arise.