Layoffs Looming as Illumina Restructures

October 26, 2011 | Illumina announced that it will restructure its business because of slowing sales, setting the stage for possible layoffs at the San Diego maker of genetic sequencing machines and testing products. The company has seen its stock price tumble in the past few weeks following disappointing sales figures.  

As part of the restructuring, Illumina plans to create a new business unit devoted to the development of business with hospitals and physicians. 

“We really need to create a much stronger focus on customers that are using our technologies in clinical applications,” said CEO Jay Flatley. “We think that will help us take advantage of the impending growth in that market segment.” Sign On San Diego