01:38 PM EDT, 04/09/2024 (MT Newswires) -- Harvard Bioscience ( HBIO ) said Tuesday it is reducing its labor force to save costs.

The company did not specify how many jobs it would eliminate, but noted it expected to save around $4 million annually starting in Q2 as a result of the measure.

Harvard Bioscience ( HBIO ) said it would incur $500,000 in restructuring-related charges.

Harvard Bioscience ( HBIO ) had over 400 employees, according to S&P Global Capital IQ data.

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