- Journalist who brought down U.S. general is killed in Los Angeles car crash
- Angelina Jolie stunt double sues News Corp over hacking
- Kanye West wins over critics with 'daring' new album 'Yeezus'
- UPDATE 2-United Dreamliner diverted due to possible oil filter problem
- U.S. doctor group votes to recognize obesity as a disease
UPDATE 1-Cangene to cut 17 pct of workforce
Jan 5 (Reuters) - Canada's Cangene Corp said it will cut 120 positions, about 17 percent of its workforce, and save $6 million to $7 million per year.
The financial impact of the cuts is expected to be neutral in current fiscal year with the cost savings being offset by severance costs, the biopharmaceutical company said in a statement.
The company also appointed Gary Floyd as chief operating officer.
Shares of the company closed at C$2.04 on Thursday on the Toronto stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Don Sebastian)
- Tweet this
- Share this
- Digg this