Xoma to Slash Workforce

Biotechnology firm Xoma (Berkeley, CA) says it will cut 144 jobs, about 42% of its workforce, due to challenging market conditions. Most of the cuts will be in manufacturing, Xoma says. “We have made a difficult but necessary decision,” says Steven Engle, chairman and CEO of Xoma. “Although manufacturing was fully utilized in the fourth quarter, forecasted manufacturing demand in 2009 will not meet expectations. The reductions are focused on manufacturing and related areas, and associated general and administrative support, and this action will...

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