Biogen is cutting 11% of its workforce

Biogen is cutting 11% of its workforce, the company announced on Wednesday.

Shares were halted ahead of the announcement, which were released together with the bitoech company’s third-quarter earnings results.

More to come …

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.