Australian multinational CSL is parting ways with 15% of its workforce as part of a sweeping restructuring push, with an eye toward streamlining its operations and boosting its clinical and commercial performance.
As part of this strategic initiative, CSL will also spin off its vaccines business, CSL Seqirus, into its own independent entity, effective before its 2026 financial year ends in June next year. The pharma will also cut back on its overall expenditure, “including consolidation of R&D footprint.”