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Illumina, Inc. (ILMN) to Cut 200 Jobs to Reduce Cost


10/26/2011 8:18:16 AM

Illumina Inc said it will cut about 8 percent jobs, or about 200 employees, a day after the gene sequencing device maker posted disappointing quarterly results and planned to realign its cost structure. The company is going through a rough patch as the U.S. government reduces its funding to academic and research institutes that are a major part of Illumina's customer base. On Tuesday, Illumina said it expected restructuring-related charges of about $15-$17 million, most of which will be recorded in the fourth quarter.

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