Schrödinger to Cut 7% of Workforce

Dow Jones

May 20, 2025

By Kelly Cloonan

Schrödinger plans to cut its full-time workforce by about 7% as it looks to cut costs.

The company, which develops software for drug development and materials design, said Monday the cuts will amount to about 60 employees.

The company expects to incur about $3 million in restructuring charges, including severance payments, employee benefits and related costs, primarily in the year ending Dec. 31.

The workforce reduction and other cost reductions will reduce operating expenses by about $30 million annually, the company said. The efforts are part of an overall restructuring aimed at improving the company's cash burn rate and boosting operational efficiency.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 19, 2025 17:12 ET (21:12 GMT)

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The efforts are part of an overall restructuring aimed at improving the company's cash burn rate and boosting operational efficiency. \n\n\n \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 19, 2025 17:12 ET (21:12 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}