NEW YORK, April 10 - Nanogen has laid off around 20 percent of its staff as it takes steps to better manage resources dedicated to developing and marketing molecular diagnostic products, the company said today.
The reduction in staff, which brings total headcount to 156, is expected to save Nanogen around $5 million this year.
"Nanogen remains dedicated to its strategy to continue to place its NanoChip Molecular Biology Workstations within clinical reference labs and increase sales of its consumable products ...," said Howard Birndorf, Nanogen's chairman and CEO. "Adjusting our cost structure will enable us to effectively manage our business in this weakened economy."
Click here for more information.