Business Services Industry
Pittsburgh Biotechnology Firm Gets Infusion, Cuts Quarter of Its Staff.
Knight Ridder/Tribune Business News, October, 2002
By Pamela Gaynor, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Oct. 17--Cellomics Inc., seen widely as one of the region's most promising biotechnology companies, yesterday let go more than a quarter of its remaining staff, reducing its payroll to 85 employees.
The layoff, the third since Cellomics began the year with 192 employees, came as the company secured $15 million in financing from a group of investors led by Germany's Carl Zeiss Ltd., a maker of optical and medical technology.
As part of its restructuring, Cellomics also has reshuffled its board of directors with Zeiss taking three seats on the six-member board.
Dr. D. Lansing Taylor, chairman and chief executive officer, called the layoffs "painful"...
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