QLT’s workforce cut, CEO quits after shareholder coup

TORONTO (Reuters) – Charting a new course after a boardroom coup, Canadian biotech company QLT Inc outlined plans on Monday to cut 68 percent of its workforce and find a new chief executive. The company’s new board, elected following a proxy battle in June, plans to sell or spin off parts of the company, return $100 million in capital to shareholders and focus on developing a treatment for several eye diseases that can cause blindness. …