QLT Inc. (QLTI) to Cut Workforce by 42%
- RenaissanceRe (RNR) to Acquire Platinum Underwriters (PTP) in $1.9B Deal
- U.S. Defense Secretary Hagel Said to Step Down Amid Pressure
- Pre-Open Stock Movers 11/24: (RNA) (CIMT) (PTP) Higher; (LGF) (TSL) (CBI) Lower (more...)
- United Technologies (UTX) CEO Chenevert Announces Retirement; CFO Hayes to Assume Role
- Apple (AAPL) PT Raised to $135 at Susquehanna on Greater iPhone 6 Plus Mix
QLT Inc. (Nasdaq: QLTI) announced a 42% reduction of its workforce to better align its resources with the Company's corporate objectives following the recent sale of Visudyne® to Valeant Pharmaceuticals International, Inc. ("Valeant"). QLT expects to record a restructuring charge of approximately $2.0 million relating to this reduction in force. The Company also expects the reorganization to result in approximately $3.8 million in reduced annualized expenses once the reduction is fully implemented in the first half of 2013.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 3D Systems (DDD) to Acquire Cimatron (CIMT) for $8.97/Share
- Acacia Research (ACTG) Enters Settlement, Release Agreement with Axiom
- RF Micro Devices (RFMD), TriQuint Semiconductor (TQNT) Merger to Close 12/31
Create E-mail Alert Related CategoriesCorporate News, Guidance, Hot Corp. News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!