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More Cuts at Bruker Will Save Company $3M A Year; CEO Takes 20 Percent Pay Cut in 05

NEW YORK, Dec. 20 (GenomeWeb News) - Bruker BioSciences announced another round of cost-cutting and restructuring today that will save the company $3 million a year, and another $1 million next year.

 

Bruker will move all its German administrative and life-science business activities to its site in Bremen, and its German nuclear, biological, and chemical detection business to its Leipzigsite. Moreover, the UKoperations of subsidiaries Bruker AXS and Bruker Daltonics will be combined into one, based in Coventry.

 

In addition, Bruker will cut costs throughout the company, particularly at its non-profitable USsubsidiaries in Billerica, Mass., and Madison, Wis.

 

Bruker's CEO Frank Laukien will take a 20 percent pay cut next year. Combined with pay cuts for other managers and other temporary measures, this will save the company another $1 million in 2005.

 

Bruker has also incorporated sales subsidiaries in several countries "where the business volume has reached critical mass," according to a company statement.

 

A Bruker spokesperson did not know whether the cost-saving measures, which will be fully implemented in the second half of 2005, will result in job cuts.

 

This is Bruker's second round of restructuring this year. In September, the company laid off 60 staffers and reorganized its business to save $6 million per year.

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