Even when a bioinformatics company has layoffs, bioinformaticists are the last to go. NetGenics recently laid off 29 of its 100-person workforce. CEO Manuel Glynias says cuts were primarily made in the administrative, consultancy, IT, and marketing departments. “Essentially no programmers” were let go, he says.
Glynias blames poor market conditions, which foiled NetGenics’ IPO plans. “We haven’t been able to get the IPO done and it doesn’t look possible for the next quarter or two,” he says.