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ABI Says No More Layoffs Anticipated

SAN FRANCISCO, Jan. 8 - Will the new year bring additional layoffs for Applied Biosystems?

 

Probably not -- but maybe -- ABI executives said today at the JPMorgan 21st Annual Healthcare Conference here.

 

At the end of 2002, ABI cut approximately ten percent of its staff, giving about 500 people the pink slip between Christmas and New Year's. The company said the job reductions were to gird for uncertain economic conditions in addition to bringing resources in line with a lowered research budget.

 

"We think we did that," said Michael Hunkapiller, president of Applied Biosystems, who said he did not think there would be more layoffs in the near term but cautioned it "depends on what happens in 2003."

 

"Based on best estimates, we think we've done what we had to do," said Tony White, CEO of ABI's parent company Applera.

 

"But no guarantees," he added.

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