Canada's MDS is slashing 210 jobs at its MDS Pharma Services and MDS Analytical Technologies divisions and is writing down the value of a Montreal facility. Most of the job cuts will fall on the Pharma Services side--a clinical research organization engaged in discovery work. The deepest cuts will be made in North America with some in Europe. MDS says its growth opportunities are bigger in Asia. MDS has a work force of 5,500. The company will take a $28 million charge and expects to see costs shaved by $20 million a year.
- check out the AP report [1]
Related Articles:
MDS pays a premium for Molecular Devices buyout [2]
MDS slashing jobs, narrows focus to life sciences [3]
Canada short on biotech workers [4]
Links:
[1] http://money.cnn.com/news/newsfeeds/articles/apwire/413af84b2bee9f56ff021a48d04c043d.htm
[2] http://www.fiercebiotech.com/story/mds-pays-a-premium-for-molecular-devices-buyout/2007-01-30
[3] http://www.fiercebiotech.com/story/mds-slashing-jobs-narrows-focus-to-life-sciences/2005-09-01
[4] http://www.fiercebiotech.com/story/canada-short-biotech-workers/2008-06-27