Caliper Technologies has said that it will reduce its work force by approximately 50 positions, or 9 per cent of its total head count, as part of a restructuring exercise following its $71 million (€63.2m)acquisition of lab automation company Zymark.
Upon acquiring Zymark, Caliper moved its headquarters from Mountain View in California to Zymark's headquarters in Hopkinton, Massachusetts. Employees at both sites are affected by yesterday's announcement.
Caliper stressed that its research and development (R&D) organisation will remain unchanged at present "pending strategy and product priority decisions that will be made in the second half of 2003."
"This action sets the stage for Caliper to attain its goal of being profitable by the fourth quarter of 2005," said Kevin Hrusovsky, the company's president and chief executive. He added that the consolidation will be a big step towards achieving the previously-announced minimum savings of $10 million annually by year end.