Following weeks of speculation that layoffs were on the way, Applied Biosystems announced last week that it was cutting roughly 250 jobs in an effort to "reduce and rebalance" its workforce.

The firm also said that it would take a pre-tax charge of $20 million to $22 million in its fiscal 2005 fourth quarter to cover the costs of employee severance and facility closures. ABI's fiscal 2005 year and fourth quarter ends June 30.

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