Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Labopharm cuts 23 jobs

Posted: July 19th, 2011 | Author: | Filed under: By Location, Canada | Tags: , | No Comments »

Drug maker Labopharm Inc is cutting 23 jobs in Canada to save $2.7-million a year, less than a month after its U.S. joint venture slashed its workforce in half.

The beleaguered Montreal area pharmaceutical company says it will have 71 positions remaining to support its ongoing business, including research and development.

The job cuts come as Labopharm continues a strategic review initiated in March.

From: The Globe and Mail

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