Illumina (ILMN) said it is instituting an incremental approximately $100M cost reduction program for fiscal 2025. The company added, “These savings would mitigate the impact of a range of potential scenarios for a reduction in revenue and related operating income from the company’s Greater China business. The cost reduction program includes optimizing stock-based compensation and non-labor spending and accelerating certain productivity measures.” CEO Jacob Thaysen added, “We remain focused on achieving high-single-digit revenue growth by 2027, while expanding our margins. We are confident in the large global market opportunity for our solutions, the strength of our business, and our strategy to continue to lead innovation in genomics and multiomics in support of our customers.”
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