The Australian stock exchange today granted a request from GI Dynamics (ASX:GID) to halt trading in shares of its stock, pending a company announcement between now and March 9.
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GI Dynamics to lay off 10% of workforce
GI Dynamics said yesterday that it’s planning to cut 10% of its workforce as it develops a restructuring plan.
The move includes the departure of longtime CFO Robert Crane effective immediately, according to a press release. Lexington, Mass.-based GI Dynamics reported 67 employees in its 2013 annual report.