With proxy fight dead­line a month away, Il­lu­mi­na an­nounces plans to cut $100M in costs

Il­lu­mi­na will cut $100 mil­lion in an­nu­al costs amid a proxy fight with ac­tivist in­vestor Carl Ic­ahn, the com­pa­ny said in quar­ter­ly re­sults Tues­day.

The San Diego-based mak­er of DNA se­quencers said it plans to ex­am­ine its glob­al re­al es­tate port­fo­lio, its spend­ing on third-par­ty ven­dors, and will ac­cel­er­ate IT ef­forts as part of the cost-re­duc­tion plan that is set to go in­to ef­fect lat­er this year. It’s al­so look­ing at per­son­nel costs, said a per­son fa­mil­iar with the com­pa­ny’s plans, who spoke on con­di­tion of anonymi­ty.

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