Epitope cuts staff in bid for profitability
This article was originally published in Clinica
Diagnostics manufacturer Epitope is cutting its workforce by 28% as part of a restructuring programme. This will lead to a $500,000 charge in the third quarter, the company warns, but will result in cost savings of more than $2 million a year. The move is part of Epitope's plan to focus its business and bring the company to profitability, says CEO Adolph Ferro. "We will now have an organisation that has a lower-cost profile, yet is fully resourced to meet the needs of our customers and match the plans of our medical diagnostics marketing partner, SmithKline Beecham."