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TearLab to Cut More Jobs

biospaceDecember 28, 2017

Tag: TearLab , layoffs

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TearLab Corporation (OTC:TEAR) is looking to keep its customer base and reduce the company’s cash burn rate with a new business model that will result in people losing their jobs, according to regulatory filings.

The company said that it wants to focus resources on the development of its next-gen TearLab Discovery platform.

TearLab did not report exactly how many employees it will let go, but said it plans to "reduce headcount across its commercial, administrative and technical functions."

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