Wednesday, August 15, 2007

Amgen Cuts Staff

Thousand Oaks-based Amgen said Wednesday that it will cut 12-14 percent of its staff, and take charges of $600-$700M. Amgen, which has been facing negative FDA label changes for its EPOGEN and Aranesp compounds, had been expected to announced the move sometime this week. The layoffs will affect approximately 2,200 to 2,600 staff. According to Amgen, the move will also come in conjunction with reduced planned capital expenditures of approximately $1.9B during 2007-2008.

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