ACADIA Pharma (ACAD) to Cut Workforce by 50%
Up)
In a Form 8-K, ACADIA Pharma (Nasdaq: ACAD) announced that, in connection with its recent restructuring plans, the Company plans to reduce its total workforce by about 50% to 28 employees.
The Company expects to complete the workforce reduction by October 19, with the exception of a few employees helping to transition matters. The Company estimates that it will record charges of approximately $1.3 million during the fourth quarter of 2009 for employment termination costs payable in cash in connection with the workforce reduction.
The Company expects to complete the workforce reduction by October 19, with the exception of a few employees helping to transition matters. The Company estimates that it will record charges of approximately $1.3 million during the fourth quarter of 2009 for employment termination costs payable in cash in connection with the workforce reduction.
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