LanzaTech Global (LNZA) said late Tuesday it expects to reduce 10% to 15% of its global workforce in a bid to cut costs.
The company expects the initiative to help it achieve roughly $30 million of annual cash operating expense reductions, it said.
LanzaTech is assessing scale up opportunities for its nutritional protein capabilities, along with its recently outlined plan to spin out its synthetic biology platform.
The company said it has rescheduled its Q4 and 2024 earnings call to March 31.
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