--- title: "Bio-Rad restructuring to cut about 5% of workforce" url: "https://aibio.space/news/bio-rad-restructuring-cut-about-5-percent-workforce-45-million-50/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-02-13" section: "Distress" tickers: "UPCOM:BIO" source: "https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-20250207.htm" summary: "Bio-Rad began the plan on February 7, 2025 and expects it to be substantially completed by the end of fiscal 2025. The company also made a binding offer to" --- By the aibio.space news desk. Sources - [BIO-RAD LABORATORIES, INC. Form 8-K filed February 13, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-20250207.htm) - [BIO-RAD LABORATORIES, INC. exhibit bio-8k2132025xex991.htm to the February 13, 2025 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-8k2132025xex991.htm) - [BIO-RAD LABORATORIES, INC. Form 10-K filed February 16, 2024: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/12208/000001220824000013/bio-20231231.htm) [BIO](https://aibio.space/companies/nha-trang-vaccines-and-biological-products-jointstock/) 2025-02-13 # Bio-Rad restructuring to cut about 5% of workforce, with $45 million to $50 million in costs Tickers [BIO](https://aibio.space/companies/nha-trang-vaccines-and-biological-products-jointstock/) Bio-Rad began the plan on February 7, 2025 and expects it to be substantially completed by the end of fiscal 2025. The company also made a binding offer to buy Stilla Technologies. ## Key facts - **Company**: Nha Trang Vaccines And Biological Products JointStock Co (UPCOM: BIO) - **News type**: Distress - **Primary source**: [BIO-RAD LABORATORIES, INC. Form 8-K filed February 13, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-20250207.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* Bio-Rad Laboratories, Inc. disclosed on February 13, 2025 that it began a restructuring plan on February 7, 2025 that is expected to eliminate approximately 5% of its workforce. The company estimates total costs of between approximately $45 million and $50 million, mostly one-time termination benefits. The disclosure came in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-20250207.htm) filed alongside fourth-quarter and full-year 2024 results and an announcement that Bio-Rad had made a binding offer to buy Stilla Technologies. ## The restructuring plan Bio-Rad describes the plan as strategy-driven and part of its ongoing program to improve operating performance. It mainly affects operations in the United States. The plan includes eliminating certain positions, consolidating certain functions and relocating certain operations to lower cost locations. The company expects the workforce reduction to total approximately 5% of its workforce and anticipates the plan will be substantially completed by the end of fiscal year 2025. The filing was made under Item 2.05, which covers costs associated with exit or disposal activities. ## What it will cost Bio-Rad estimates it will incur between approximately $45 million and $50 million in total cost. It expects the cost to consist primarily of one-time termination benefits for affected employees, including cash severance payments, healthcare benefits and related transition assistance. The company anticipates recording approximately $30 million to $35 million of the charges in the first quarter of fiscal year 2025, with the balance expected by the end of fiscal year 2025. The amounts are preliminary estimates based on information currently available to management. The filing says additional charges and future cash payments could occur in relation to the restructuring actions. ## Fourth-quarter and full-year results In a [press release](https://www.sec.gov/Archives/edgar/data/12208/000001220825000004/bio-8k2132025xex991.htm) furnished as Exhibit 99.1, Bio-Rad reported fourth-quarter 2024 net sales of $667.5 million, down 2.0 percent from $681.2 million a year earlier. Full-year 2024 net sales were $2,566.5 million, compared with $2,671.2 million in the prior year. The company attributed the declines to lower sales in its Life Science segment and ongoing weakness in the biotech and biopharma end markets. Clinical Diagnostics segment fourth-quarter sales were $392.5 million, up 0.9 percent. Bio-Rad reported a fourth-quarter net loss of $715.8 million, or $25.57 per diluted share, versus net income of $349.7 million a year earlier. It said a change in the fair market value of its investment in Sartorius AG substantially contributed to the loss. For the full year, it reported a net loss of $1,844.2 million, or $65.36 per diluted share. For 2025, the company expects non-GAAP, currency-neutral revenue growth of approximately 1.5 to 3.5 percent and an estimated non-GAAP operating margin of approximately 13.0 to 13.5 percent. ## The Stilla Technologies offer Under Item 8.01, Bio-Rad said it issued a second press release on February 13, 2025 announcing that it had entered into a binding offer to purchase all equity interests in Stilla Technologies, a French corporation. That release is Exhibit 99.2. The results release describes Stilla as a next-generation digital PCR developer and says that, subject to a proper consultation process, the transaction would be expected to close by the end of the third quarter of 2025. Norman Schwartz, Bio-Rad's Chairman and Chief Executive Officer, said the anticipated acquisition would support customers' increasingly diverse range of research and clinical diagnostic applications. ## About the company Bio-Rad's shares trade on the NYSE under the symbols BIO and BIO.B, according to the press release. Its [annual report on Form 10-K](https://www.sec.gov/Archives/edgar/data/12208/000001220824000013/bio-20231231.htm) for 2023, filed February 16, 2024, says it is a multinational manufacturer and distributor of life science research and clinical diagnostics products. The 10-K describes the Life Science segment as instruments, systems, reagents and consumables used for biological research, biopharmaceutical production processes and food testing. It also warns that the tax effect of the company's position in Sartorius AG could continue to materially affect its financial results. ## Who is involved Executive Vice President and Chief Financial Officer Roop K. Lakkaraju signed the Form 8-K. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story BIO Nha Trang Vaccines And Biological Products JointStock Co UPCOM ยท Vietnam Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/bio-rad-restructuring-cut-about-5-percent-workforce-45-million-50/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Bio-Rad restructuring to cut about 5% of workforce", 2025-02-13, https://aibio.space/news/bio-rad-restructuring-cut-about-5-percent-workforce-45-million-50/