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Sigma-Aldrich Lays off 130 In Q3

NEW YORK (GenomeWeb News) – Sigma-Aldrich laid off 130 employees during the third quarter as part of a restructuring plan, the St. Louis company disclosed in its Form 10-Q recently.

In the document filed with the US Securities and Exchange Commission, the company said that it committed to a restructuring plan during the third quarter to reduce its global headcount and further reduce its fixed cost structure. The cost of the restructuring is $5 million, of which $4 million was recorded in the quarter.

The 130 layoffs come on top of a reduction of 30 positions during the second quarter due to a restructuring of Sigma-Aldrich's European sales operations.

Sigma-Aldrich employs around 9,000 people worldwide, according to the firm's most recent quarterly filing with the SEC.

The company said two weeks ago that revenues for the third quarter increased 2 percent year over year.

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