Nanogen Gives 89 the Boot – Plus Arena and Valeant
June 2, 2009 at 6:22 pm EST | Tags: Economy & Layoffs
Presented by BioPharm
Process Associates…
The bad times are still not over and there’s more bloodletting to be done by the industry. Today, Xconomy is reporting that Nanogen will be axing 89 employees by July 14th.
The boot comes after the San Diego-based diagnostics company filed for Chapter 11 bankruptcy back in May.
Nanogen will not go out completely though. The company is selling its assets via auction to Elitech for $25.7M.
The layoff news first broke on GenomeWeb, which found the layoff list on the California’s Employment Development Department website.
We took a look at the WARN page again and just wanted to remind ourselves who will be handing out pink slips this month:
Arena Pharmaceuticals (San Diego), 130 employees – effective 6/22/09;
Valeant Pharmaceuticals (Aliso Viejo), 16 employees – effective 6/30/09.
The pain is not over for some, if not most.
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