PacBio Cuts 28% of Workforce

September 20, 2011

September 21, 2011 | Pacific Biosciences cut 28% of its workforce--130 employees--according to a report released yesterday to the Securities and Exchange Commission (SEC). The company introduced its next-generation sequencing machine in April, but explained that the adoption rate for the technology was slower than expected. The company hopes that the cuts will conserve cash, while still allowing for support of its growing customer base. Xconomy