Cesca Therapeutics Inc. will eliminate 60 jobs in the U.S. and India, reducing its workforce in these countries by 25%.
The Rancho Cordova, Calif.-based company said the staff cut is expected to be substantially completed by the end of June.
Cesca said the jobs cuts are designed to lower operating expenses as it focuses on growing its revenue-generating products, while also developing its technology for chimeric antigen receptor T-cell therapies.
The company expects the layoffs, along with other cost savings, to result in about $2.5 million in annualized operating expense savings once the plan is fully implemented.
