Illumina cuts 5% of its workforce

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The company said it was expecting to take a restructuring charge, which would include expenses related to optimizing its facilities, in the fourth quarter.

The layoffs come on the back of a near $4 billion impairment it took in the third quarter related to its cancer test unit GRAIL.

The company, which is in the process of launching its next-generation NovaSeq X DNA sequencing systems, has over 9,100 employees globally, according to its website.