Osiris Axes 80 Employees
March 30, 2009 at 6:35 pm EST | Tags: Economy & Layoffs
Just one business day after Osiris stopped a
mid-stage trial for Crohn’s disease, the
company has shown 80 of its own the exit sign.
The company is accelerating the transfer of its Osteocel business to NuVasive. The transfer of the business gets Osiris a $30M milestone payment, but also comes with a $1.2-1.6M cost associated with the axes.
Math time:
A. 80 employees out the door
B. $1.2M severance charge
C. = B/A = severance/employee = $15,000
Peanuts! Plus, don’t forget that Uncle Sam also gets a cut (that bastard) so you’re left with about $8-10K.
Osteocel is currently used as a bone regenerative during orthopedic procedures.
Good luck with Genzyme, Osiris!
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