Rosetta Genomics Announces Layoffs

 Rosetta Genomics Announces Layoffs

NEW YORK (GenomeWeb) – Rosetta Genomics announced today that it will implement a cost-reduction plan that aims to initially trim its annual operating expenses by $1.7 million, primarily through layoffs and discretionary spending cuts.

Rosetta said that it would reduce employee and contractor headcount in both the US and Israel, but did not provide specific details about its plan such as the number of jobs that would be eliminated or exact areas of expense reduction.

As of Dec. 31 — the last date for which Rosetta publicly released financial results — the company had 86 employees, 47 of whom were in R&D. Sixty-six of the firm’s employees were in the US, with the remaining 20 based in Israel.

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