FibroGen, Inc. has announced a restructuring plan to reduce operating expenses which includes a 32% reduction in its U.S workforce, affecting around 104 employees. The plan will incur one-off costs between $13-15 million, primarily for severance payments, notice pay, and employee benefits. The majority of these expenses are expected to be incurred in the third quarter of 2023 and completed by the end of the first quarter of 2024. This restructuring is expected to save the company $30-35 million in annual expenses going forward.