BIOQUAL, Inc. Announces a Reduction in Workforce
BIOQUAL INC (BIOQ)
NASDAQ:AMEX Investor Relations:
bioqual.com/financials-press
Company Research
Source: Business Wire
ROCKVILLE, Md.--(BUSINESS WIRE)--This week BIOQUAL, Inc. (OTC: BIOQ) announced a reduction in workforce (RIF) of approximately 10% of its employees effective Monday, September 9, 2024. The RIF was a necessary cost-cutting measure due to the decrease in revenue and profitability that BIOQUAL has experienced in the last year. In a post-COVID-19 environment, the Company has seen a significant drop in the demand for their services due to the development of COVID-19 vaccines and therapeutics and needed to realign its cost structure accordingly. BIOQUAL does not expect the RIF to impact the current services it provides or to hamper its business prospects for the future.Statements herein that are not descriptions of historical facts are forward-looking and subject to risks and uncertainties. The forward-looking statements are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertain
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