Employees Get Boot: J&J, Amgen, Cleveland BioLabs
April 13, 2009 at 10:54 am EST | Tags: Economy & Layoffs
This is what happens when we take a day off: we miss the layoff boat! While we were out, three companies gave some of its own “The Boot.” Let’s get to it:
Generic competition has hit Johnson & Johnson and about 900 of the company’s employees. J&J says the axes are coming from the pharmaceuticals unit and that the cuts will equal about 6% of its U.S. workforce. The axe mostly swung amid the sales force for J&J’s Ortho-McNeil-Janssen unit with some of the 900 eliminations hitting existing employees as well as scrapping vacant positions that won’t be filled. The layoff rumors had been hovering online for weeks now, but J&J finally confirmed the pink slips on Friday. The pain… [WSJ]
Amgen is axing 100 employees at its drug manufacturing site in Bothell, WA. The workers are not being offered transfers to Amgen’s headquarters in California, although they do have an opportunity to apply for other jobs within Amgen. They are expected to be let go in July, will receive a minimum of six months worth of salary as severance, a year of paid health insurance, and assistance in finding new jobs. The recent Boot will leave the biotech giant with about 70 people still working in Bothell. Just a matter of time… [Xconomy]
- Cleveland BioLabs said it “streamlined” its operations in the first quarter by reducing its workforce, but didn’t provide much details as to the exact number of boots. The company also said it will now focus all, if not most, of its efforts on developing CBLB-502, a radioprotectant drug in development for Acute Radiation Syndrome. The company also announced a private placement of stock and warrants totaling $4,460,000. Good luck! [BioSpace]
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