NEW YORK (GenomeWeb) – Great Basin Scientific announced today that it is implementing a restructuring and cost reduction plan involving the elimination of 50 jobs and the streamlining of manufacturing and administrative processes.

A number of the cost reduction measures will begin immediately, and all are expected to be substantially completed by the end of the quarter, the company said. With these changes and other previous cost reductions, Great Basin expects to reduce its annual cash burn by $10 million to $12 million.

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