Complete Genomics To Lay Off 20 Percent of It’s Workforce And Could Sell the Company

Back in 2008 Complete Genomics was the leader in bringing down the cost of sequencing with their “wholesale” approach and with today’s standards there’s a whole lot of competition out there.  BD 

Complete Genomics Inc. said Tuesday that it's laying off about 20 percent of its workforce in order to cut costs and has hired a financial adviser to help it explore "strategic options," including a possible sale of the company.

The company, based in Mountain View, Calif., sells technology that can sequence human DNA for research purposes. It said it plans to focus on developing clinical applications for its whole human genome sequencing service, while continuing to provide genomes to research customers.

Most of Complete Genomics' job cuts are expected to take place during the current quarter, which ends on June 30. The company estimated its restructuring and related costs at about $1.5 million, which includes severance pay for the workers whose jobs are being eliminated.

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