Cangene Lays off Additional 40
Posted: April 8th, 2011 | Author: Saddam Hussain | Filed under: By Location, Canada | Tags: Cangene, Cangene Corporation | No Comments »Cangene Corporation (TSX: CNJ) said today it has reduced its workforce by 40 positions by way of layoffs, bringing the total number of positions eliminated in the current fiscal year to approximately 100, representing 12% of Cangene’s total workforce.
Between August 1, 2010 and January 31, 2011, Cangene reduced its workforce by 60 positions mainly through attrition.
As at July 31, 2010, Cangene and its subsidiaries employed 771 persons in full-time positions, 235 of which in the U.S. Approximately 45% of the total employees worked in the contract-services segment. A year earlier as of July 31, 2009, Cangene reported 735 in full-time employees with 179 in the U.S.
Cangene said it is making organizational changes in its Canadian operations to reflect decreased U.S. government contract-manufacturing activity and to align its workforce with its growing strategic focus on its commercial products.
Cangene will concentrate resources on pipeline development through product acquisition, partnering arrangements and internal R&D.
From: Tech Finance
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