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Article: BIOTECH FIRM TO DROP UP TO 70 JOBS, CLOSE PLANT TARGETED GENETICS WILL CONSOLIDATE OPERATIONS IN SEATTLE.(Business)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- December 18, 2002
- Author:
CopyrightCOPYRIGHT 2002 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JOHN COOKP-I reporter
Targeted Genetics Corp. is eliminating up to 70 jobs, closing a manufacturing facility in Pennsylvania and consolidating operations in Seattle in an effort to save enough money to last through the coming year.
The biotechnology company, which was spun out of Immunex Corp. in 1989, notified 70 employees Monday that they could lose their jobs in 60 days. If that layoff occurs, Targeted Genetics would be left with a staff of about 50 employees.
It cut 45 jobs in August after its preclinical cancer-treatment programs were put on hold.
"We are looking at the overall picture and ways to survive and thrive ...