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December 6, 2012
08:08 EDTQLTIQLT to reduce workforce by 42%, expects $2M restructuring charge
QLT announced a 42% reduction of its workforce to better align its resources with the company's corporate objectives following the recent sale of Visudyne to Valeant Pharmaceuticals International. QLT expects to record a restructuring charge of approximately $2M relating to this reduction in force. The company also expects the reorganization to result in approximately $3.8M in reduced annualized expenses once the reduction is fully implemented in the first half of 2013.
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