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Exelixis Lays Off 62 Employees

NEW YORK, June 30 (GenomeWeb News) - Exelixis announced today that it has eliminated 62 jobs, or approximately 11 percent of the company's workforce.

 

According to an official company statement, most of the layoffs will be from Exelixis' research and discovery organizations as the company attempts to consolidate it resources to generate new investigational new drug applications and advance them through clinical development.

 

The company said it expects the restructuring to result in at least $5 million in savings in 2004, excluding the estimated $2 million loss due to severance benefits and other restructuring costs anticipated in Q2 of this year.

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