Novacyt: Potential workforce reduction to optimize costs

Novacyt SA, an international company specializing in molecular diagnostics, announces changes to its operating cost structure. Following the successful launch of new products and the acquisition of Southern Cross Diagnostics Pty Ltd, the Group plans to streamline its operations.

Consultations with some staff members could lead to a 40% reduction in staff, bringing the total to 230 people by the end of May 2026. This restructuring, if implemented, could reduce annual costs by £4 million.

The process also involves restructuring costs estimated at £1 million. The expected results of this consultation are crucial for the Group's future costs.