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Oxford Molecular to Post £26M Loss, 55 Jobs Cut

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xford, UK--Due to 1999 losses, bioinformatics company Oxford Molecular said last week that it will cut 55 jobs and restructure its organization. Oxford said it expects to announce a loss for the year, after exceptionals, of about £26 million, which includes an operating loss of about £11.6 million.

Investment in software will be concentrated on the bioinformatics market and in those software products that support its Discovery Solutions division. In the future, the software business will operate from two main centers--Madison, Wis., for bioinformatics, and Hunt Valley, Md., for the remainder of its cheminformatics and computer-aided chemistry businesses.

Space at the company’s headquarters here will be reduced by 33 percent and 20 people will be let go. There were two further job losses elsewhere in Europe. Thirty-three software jobs will be lost in the US.

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