Decode Genetics Closing Illinois Facility, Cutting 60 Positions

Sep 30, 2009

NEW YORK (GenomeWeb News) – Decode Genetics will close its Woodridge, Ill., facility and eliminate around 60 positions, the firm disclosed in a filing with the US Securities and Exchange Commission today.

Decode said that it expects to incur a total of around $1.5 million in cash expenditures connected with the closure of the facility and winding down of operations. Among those costs, it anticipates around $580,000 to be related to employee costs, $150,000 related to chemical disposal costs, $150,000 related to utility costs, and $460,000 related to contract termination fees.

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