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Invitae Has Divested The Assets Of Ciitizen And Announced Strategic Cost Cuts, Which Will Include A Workforce Reduction And Other Operating Expense Reductions

Author: Benzinga Newsdesk | December 13, 2023 05:10pm

oday, the company also implemented efforts to significantly reduce its operating expenses via a workforce reduction and other cost saving initiatives, which include streamlining processes across its core platforms and optimizing its technology, professional services and other spending.

In combination with the Ciitizen transaction, these initiatives are anticipated to result in  annualized cash savings of approximately $90-100 million, excluding one-time severance related payments.

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