TransEnterix Cut Ties with 40% of U.S. Employees

Research Triangle Park’s TransEnterix (NYSE MKT: TRXC) cut ties with an estimated 50 employees in the United States – about 40 percent of its workforce in this country – something company CFO Joseph Slattery said will result “in an annualized reduction in salaries of approximately $4 million.”

TransEnterix had developed a robot to assist surgeons in minimally invasive surgery called SurgiBot. However, the U.S Food and Drug Administration denied TransEnterix’s application for approval of the device.

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