Thursday, April 23, 2009

Sequenom Chops 30 Employees

San Diego-based Sequenom, a developer of genetic analysis equipment, announced late Thursday that the firm has cut approximately 30 employees as part of a cost cutting measure. According to the firm, the cuts were a result of a "continuing weak outlook in 2009" for sales of its equipment, particularly in the U.S. The firm said the cuts were made in its Genetic Analysis business. Sequenom said the moves should save it approximately $8M in costs in 2009, and $10M annually. The firm is taking a charge of $850,000 in connection with severance expenses.

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