Arrivederci!! Cell Therapeutics Completes Axing of 56 in Italy, D-Day Starts Monday
May 15, 2009 at 9:12 am EST | Tags: Economy & Layoffs
Cell Therapeutics (CTIC) is not immune from our Graveyard or Economy & Layoff watch. In March, CTIC axed all its Zevalin reps – 34 to be exact – and before that, in February, the company said it was closing its Bresso, Italy-based research facility. The closing came with 62 axes, although new reports now say 56.
Today, CTIC said it reached a severance agreement with the employee union (damn those unions!!!) and so now it’s time to go. The axes will ultimately save CTIC $14M/year in operating expenses. The company also said it is assisting the laid-off employees with job searches and is even helping employees with a management buy-out of the research facility.
D-Day is Monday, May 18, 2009 when the formal closure begins and the packing up of paper weights and pipettes kicks into high gear.
The bloodbath continues…
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