February 14, 2018 / 11:09 PM / 6 months ago

BRIEF-Axovant Sciences Initiated Reduction In Its Workforce

Feb 14 (Reuters) - Axovant Sciences Ltd:

* AXOVANT SCIENCES LTD - ‍ ON FEBRUARY 12, INITIATED A CORPORATE REALIGNMENT THAT INCLUDED A REDUCTION IN ITS WORKFORCE - SEC FILING

* AXOVANT SCIENCES - ‍EXPECTS TO COMPLETE REDUCTION IN HEADCOUNT, EMPLOYEE TRANSFERS, INCLUDING PAYMENT OF EMPLOYEE SEVERANCE, BENEFITS, IN Q3 2018​

* AXOVANT SCIENCES LTD - EXPECTS REALIGNMENT ACTIONS TO RESULT IN RESTRUCTURING CHARGE OF ABOUT $1.5 MILLION FOR EMPLOYEE SEVERANCE AND RELATED COSTS​

* AXOVANT SCIENCES LTD - ‍ EXPECTS REALIGNMENT ACTIONS, CHANGES IN MANAGEMENT TO RESULT IN ANNUALIZED COST SAVINGS OF BETWEEN ABOUT $6.0 MILLION AND $8.0 MILLION​ Source text for Eikon: Further company coverage:

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