Amyris Announces Layoffs, Forecasts $1M Q1 Charge

Amyris (AMRSQ) has released an update to notify the public and investors about termination and asset disposition expenses.

In a significant move, a company has announced the layoff of around 80 employees as part of its latest workforce reduction, adding to its previous staff cuts throughout the last year. Affected staff will receive severance packages, which include cash and medical insurance premium reimbursements. This downsizing is expected to incur a one-time charge of about $1 million, hitting the company’s financials in the first quarter of 2024.

For further insights into AMRSQ financials, check out TipRanks’ Financials page.

For a comprehensive understanding of the announcement, you can read the full document here.