Singapore: GI Dynamics, a medical device company developing treatments for type 2 diabetes and obesity, has decided to axe its workforce by approximately 10 percent, in a restructuring strategy, including its chief financial officer, Mr Robert W Crane.

"This restructuring has been made based on a re-evaluation of our corporate strategy and the skills and resources we believe will be required by the company in the future," said Mr Michael Dale, president and chief executive officer, GI Dynamics.

GI Dynamics has developed EndoBarrier, an endoscopically-delivered device therapy approved for the treatment of type 2 diabetes and/or obesity.