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home / news releases / frequency therapeutics to reduce workforce by 55

FREQ - Frequency Therapeutics to reduce workforce by ~55%

Frequency Therapeutics Inc.

2023-06-07 12:13:30 ET

  • Frequency Therapeutics ( NASDAQ: FREQ ) said it is reducing its workforce by ~55%, with the board having approved the planned layoffs.
  • The biotechnology company said it intends to better align its workforce with the changing needs of business.
  • The layoffs are expected to complete by June 9.
  • The job cuts are estimated to involve a total cost of ~$1.16M, primarily severance costs and related expenses.

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Frequency Therapeutics to reduce workforce by ~55%
Stock Information
Company Name: Frequency Therapeutics Inc.
Stock Symbol: FREQ
Market: NYSE
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