QLT Inc. (QLTI) to Cut Workforce by 42%
- Stocks Tank as QE Nears End, Major Fund Winds Down, and Ebola Fears
- Traders Eye Relational Investors Stocks on Wind Down
- David Tepper Talks Bonds, Stocks, Fannie/Freddie, Bill Gross and More
- WI-LAN (WILN) Reports Apple (AAPL) Granted Motion for Summary Judgement in Pending Litigation
- Box (BOX) Delays IPO Until 2015 Given Market Conditions - Reports
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.
You May Also Be Interested In
- UPDATE: Masimo Corp. (MASI) Wins $466M Verdict in Philips Trial
- General Motors (GM) Affirms Near-Term Targets; Outlines Growth Plan, Cash Return Objectives
- American Realty Capital Properties (ARCP) to Sell Cole Capital in $700M Deal (RCAP)
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!