TELA Bio cuts 20% of workforce to reduce costs by $17M annually

Malvern, Pennsylvania - TELA Bio, a medical technology company specializing in soft-tissue reconstruction, announced today that it will be reducing its workforce by approximately 20%, resulting in annual cost savings of around $17.0 million. The company, which is currently trading on the NASDAQ under the ticker symbol TELA, aims to extend its cash runway through 2028 while preserving its capacity to invest in growth and product development.

Chief Operating Officer and Chief Financial Officer Roberto Cuca announced his resignation, effective immediately, having served in these positions for the past five years. He will be succeeded by an unnamed individual. The restructuring will also involve streamlining external resources. CEO Heather Getz praised Cuca for his role in scaling operations to support the company's long-term growth.

The company expects to incur a one-time restructuring charge of about $1.5 million in the third quarter of 2026. TELA Bio plans to provide further details on the cost reduction measures during its third quarter 2026 earnings call, set for early November.