logo
Share SHARE
FONT-SIZE Plus   Neg

Cardiome Pharma To Axe Jobs - Quick Facts

Cardiome Pharma Corp. (CRME,COM.TO) 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
Live-streaming video platform Twitch said it will launch a new affiliate program for non-partnered streamers that will allow them to earn money as they broadcast on the platform. This will be similar to YouTube's Partner program and is part of Twitch's efforts to broaden its appeal. Chocolate company Hershey Co. said it will increase the visibility of nutrition information and portion options of its snacks as well as reduce the sweets' calorie count. The move is part of the company's ongoing efforts to offer a broad range of snacks and clear information in response to feedback from consumers, who are shifting to healthier foods. The Coca-Cola Company (KO) reported a profit for the first-quarter of 2017 that declined 20 percent from the prior year. Net revenues declined 11%, reflecting unfavorable impacts from structural changes of 10% and foreign currency of 1%. The company remains on track to deliver its underlying revenue and profit targets for the full year.
comments powered by Disqus
Follow RTT