Insite Vision Inc. (ISV) announced a restructuring to support its focus on identifying and developing ophthalmological products for unmet eye-care needs. The company's restructuring resulted in the elimination of 15 positions or 52% of its employees.
InSite expects that the combination of this restructuring and the restructuring conducted in December 2008 will reduce its annual operating expenses by about $4.0 million annually. A one-time charge of about $0.4 million is expected to be incurred in the second quarter of 2009. Employees affected by the restructuring are eligible for a package that includes severance pay and continuation of benefits.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.