CytoSorbents Launches Program to Reduce Workforce and Costs
CytoSorbents announced the implementation of a strategic Workforce and cost reduction plan to further reduce costs, optimize operations, and accelerate the path to cash-flow profitability. This initiative follows a comprehensive internal review of its cost structure and operating model. As part of the strategic plan, CytoSorbents reduced its workforce by approximately 10%, reduced and realigned production and operating expenses, and now expects to reach operating cash flow break-even in Q1 2026. The company expects to record a charge of up to $900K that will include severance and other charges related to the restructuring. The estimated costs that the company expects to incur, and the timing thereof, are subject to a number of assumptions, and actual amounts may differ materially.
