Ginkgo to cut spending, lay off staff after earnings disappointment

Gink­go Bioworks is look­ing to cut ex­pens­es and per­son­nel in an ef­fort to re­turn to prof­itabil­i­ty and break even by the end of 2026.

The com­pa­ny said it is plan­ning to re­duce op­er­at­ing ex­pens­es — in­clud­ing a 25% re­duc­tion in la­bor spend­ing across both re­search and de­vel­op­ment, and gen­er­al and ad­min­is­tra­tive de­part­ments, ac­cord­ing to a Thurs­day af­ter­noon press re­lease.

Dur­ing an in­vestor call on Thurs­day, Gink­go CEO Ja­son Kel­ly said that the com­pa­ny is work­ing on ex­act num­bers for the lay­offs. Ac­cord­ing to SEC fil­ings, Gink­go had 1,218 em­ploy­ees at the end of last year.

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