Kronos will lay off some 83% of its workforce by the end of the year as it continues to explore options to stay afloat, including “possible business combinations” or the divesture of remaining preclinical assets, according to a Wednesday release.
As of March 11, the company employed 62 full-time staffers, according to its annual SEC filing.
The latest round of cuts at the company follows two other staff reductions announced since November of last year. As was the case with those previous cuts, Kronos’ C-suite isn’t immune to the shakeup, either.
https://www.fiercebiotech.com/biotech/kronos-telegraphs-layoffs-and-ceo-shakeup-after-mothballing-lone-clinical-asset