logo
Share SHARE
FONT-SIZE Plus   Neg

Cardiome Pharma To Axe Jobs - Quick Facts

Cardiome Pharma Corp. (CRME,COM.TO: Quote) said it is undertaking a significant workforce reduction, following the recently announced termination of Merck's development efforts relating to the vernakalant oral program. The workforce reduction eliminates all positions focused on internal research activities along with certain supporting functions. The personnel reduction would decrease the total number of employees by some 85%.

The company is likely to incur up to $5.0 million in severance and other charges related to this restructuring over the remainder of the year.

Previously, Cardiome Pharma had announced that one of Hunter's first tasks as interim CEO would be to review all current activities of the company with the immediate objective of optimizing the spend rate. Today's announcement reflects completion of this objective.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband. Fast food giant McDonald's Corp. (MCD), reportedly plans to serve its breakfast menu for the whole day. According to a CNBC report citing analysts from Janney Capital Markets, McDonald's is planning to test serve breakfast for the whole day at select locations starting in the next few months. "Our...
comments powered by Disqus
Follow RTT