Germany’s Evotec Shows 45 Employees Exit Sign; Renovis Subsidiary Dead, in Graveyard
May 5, 2009 at 4:37 pm EST | Tags: Economy & Layoffs, The Graveyard
Hamburg-based Evotec has managed to find a new name
for axe, fired, layoff, pinkslip and
“restructuring,”…RE-ENGINEERING. We like, has a good ring.
OK, seriously. Evotec said it’s closing up subsidiary Renovis in San Francisco effective immediately to focus efforts on “re-engineering” its R&D operations. The “re-engineering” follows Evotec’s statement in March when it stated it had implemented something called “Evotec 2012 - Action Plan to Focus and Grow.”
With the closing of Renovis, 45 employees will see the ausgang (exit) sign, bringing Evotec’s workforce down to just over 300. All operations will now be based out of Germany.
Here was CEO Werner Lanthaler’s statement:
“In the context of our Evotec 2012 Action Plan to Focus and Grow we have identified strong synergistic potential in the concentration of our operations into one seamless process and operation. Through this re-engineering we will be able to most efficiently advance our proprietary core projects and deliver world-class drug discovery and development support to our partners. It also realizes significant cost savings necessary for optimal shareholder value creation. Unfortunately, however, it also means that we have to close down our operations in the United States. I would like to express my sincere appreciation to all affected employees for their important contributions to Evotec.”
Dear “Restructuring,” you as a word are now in The Graveyard and are hereby replaced with “Re-Engineering.”
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