Paradigm cuts 20% of jobs in drive for profitability:
This article was originally published in Clinica
Surgical and diagnostic company Paradigm Medical Industries is to slash its workforce by 20% as part of a "corporate downsizing" programme in an attempt to reach profitability this year. It will also cut many external services, the Salt Lake City, Utah company says. "The cost-savings initiatives will provide the company with a greater return on increased revenues this year," said Thomas Motter, Paradigm's CEO. The company does not anticipate material expenses as a result of the initiative.