Medicines Co. cuts staff again

Watch the Medicines Company shrink. Just one month after announcing a 10 percent reduction in its 300+ person staff, the Parsippany, NJ-based developer said today that it's axing another 43 jobs, or 26 percent of its field-based workforce. The cuts, which will take place by the end of February, will save the company $8 million to $9 million annually. The Medicines Company said in an SEC filing that it's reducing its headcount in order "to improve efficiencies and better align the company's costs and structure for the future." The company expects to record a one-time charge of approximately $3.5 million associated with the employee reduction, which will be recognized in the first quarter of 2010.

- here's the Medicines Company's filing
- read the Reuters report for more