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Caliper Technologies Lays Off 50 Employees

NEW YORK, Aug. 6 (GenomeWeb News) -- Caliper Technologies, new to Hopkinton, Mass., is laying off 50 of its workers, or about 9 percent of the company, the company said today.

 

The company said that the layoff affected workers from both companies and will result in savings of $10 million. Caliper said it will take a restructuring charge of approximately $954,000 by the end of the year.

 

The microfluidics and automation firm said that the reduction is a result of the acquisition of Zymark on July 14, a deal that resulted in Caliper moving its headquarters from Mountain View, Calif., to Zymark's quarters in Massachusetts. Zymark is now a wholly owned subsidiary of Caliper.

 

Caliper purchased Zymark from the Berwind Company, the private holding company that owned Caliper, for $57 million cash and 3.15 million shares of Caliper stock.

 

On July 31, Caliper reported that its total revenues for the period ending June 30 fell to $5.9 million from $7.2 million compared to the year-ago quarter.  The company had a net loss of $9.5 million for the quarter, and some $55 million in cash and cash equivalents.

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