SAN DIEGO and GAINESVILLE, Ga., Sept. 20, 2023 (GLOBE NEWSWIRE) — Societal CDMO, Inc. (Societal CDMO; NASDAQ: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today announced a strategic restructuring plan to streamline and optimize operations.
Following the completion of a comprehensive review of its operations, Societal has reduced its workforce by 26 positions (9%) across all aspects of the business, effective September 20, 2023. It also has eliminated nine open positions. These moves are expected to result in annualized savings of approximately $5.5 million. A significant majority of the cuts …
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