Lannett will axe 250 under savings scheme

Lannett will slash its workforce by around a fifth, representing more than 250 employees, as part of an ongoing cost-reduction plan that is geared towards reducing company expenses by approximately US$66 million on an annualised basis by its financial year ending in June 2020.

Lannett will slash its workforce by around a fifth, representing more than 250 employees, as part of an ongoing cost-reduction plan that is geared towards reducing company expenses by approximately US$66 million on an annualised basis by its financial year ending in June 2020.

“This US$66 million reduction equates to more than 25% of our expense base,” chief executive officer Timothy Crew told investors...

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