© Reuters. FILE PHOTO: The offices of gene sequencing company Illumina Inc are shown in San Diego, California January 11, 2016. REUTERS/Mike Blake/File Photo
(Reuters) – Illumina Inc (NASDAQ:) said on Monday it was cutting 5% of its global workforce to realign its operating expenses as stubborn inflation and a strong dollar weigh on the genetic sequencing equipment maker’s business.
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.
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