- Ironwood Pharmaceuticals (IRWD +1.6%) says it will reduce its headcount by 10%.
- The move is an effort to "align [the] workforce with [the] strategy to grow a GI therapeutics company."
- Safe from the cuts is the Linzess field-based sales team and medical science liaison team.
- IRWD expects to incur charges of $4-4.5M in connection with the move (severance and benefit costs) with the vast majority resulting in cash outlays.
- The company says it will complete the initiative in Q1. (PR)
Ironwood Pharmaceuticals, Inc. (IRWD): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report
at Zacks.com (Nov 7, 2014)