Biotech, Layoffs, Helicos
Helicos Cuts 30 Percent of Workforce
Luke Timmerman 12/4/08
Helicos Biosciences, the Cambridge, MA-based maker of genetic analysis tools, said today in a regulatory filing it is cutting 30 percent of its workforce, about 30 jobs, to conserve cash. The cuts will come between now and the end of the year, and cause the company to take a $450,000 charge for termination benefits. Earlier in the week, Helicos named Ronald Lowy its new CEO, replacing Steve Lombardi, who was demoted to president. Back in July, Lombardi said the company had about 100 employees, and that it planned to grow in Massachusetts because Gov. Deval Patrick’s life sciences initiative included support for workforce training.
We’ve updated the Boston layoff tracker with this news, so if you want to see the full list, click here.
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
