Mammography AI maker iCad lays off another 28% of workers as losses grow, revenues shrink

iCad, a New Hampshire-based company developing imaging and radiotherapy technologies for cancer detection and treatment, has announced layoffs affecting approximately 28% of its workforce.

The company's restructuring plan will cost an estimated $300,000 in severance and benefits payments, with the majority of the affected employees coming from its detection business unit. The layoffs come only a few months after the company conducted a similar reduction in force.

Meanwhile, iCad subsidiary Xoft plans to furlough half of its roster, comprising 12 employees. The company has not yet released its financial results for Q4 2022 and the full year, but a preview indicates a decrease in revenues compared to the same period in 2021.