By Roshan Fernandez
Biote cut 16 jobs as part of the company's restructuring plan to improve financial performance.
The restructuring was completed on May 5, the hormone- and therapeutic-health and wellness company said in a filing with the Securities and Exchange Commission.
As of Dec. 31, 2024, the company had 217 employees across 11 departments, according to an annual SEC filing.
The company anticipates between $600,000 and $800,000 in pre-tax restructuring charges, it said, which represents one-time severance benefits and other affiliated costs.
"The Company's restructuring actions seek to prioritize new clinic growth, maximize value from existing top-tier providers and strengthen accountability and discipline throughout the organization," Biote wrote in the filing.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 07, 2025 17:47 ET (21:47 GMT)
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