Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Apr 24, 2008

Caliper Nixes 13 Jobs and Will Incur $3.75M in Charges This Year

  • Caliper Life Sciences is consolidating its West Coast operations to reduce facility costs and improve R&D spending. The plan cuts 13 positions and moves 33 employees to a different location.

    While Caliper expects to save $3.3 million annually, it will take an overall hit of up to $3.75 million this year. The company will incur a first quarter severance and retention charge of between $500,000 to $650,000. Additionally, Caliper will pay approximately $400,000 in employee severance and retention costs over the remainder of the fiscal year, and about $2.7 million in facility-abandonment charges in the third quarter.

    Caliper also estimates that ongoing facility cash out-flows, primarily rent payments net of sublease income, will be spread over the 5.6 years remaining on its Mountain View, CA, lease. The firm will move roughly 33 employees, who are mainly involved in R&D work from this facility to its Alameda, CA, branch.

    Caliper expects to report total revenue above the mid-point of its previous projected range of $26.5 million to $29.5 million.


GEN Jobs powered by HireLifeScience.com connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
More »

Be sure to take the GEN Poll

What Does Brexit Mean for Biotech?

Do you agree with the contention that Brexit will NOT have a long-term negative impact on the British biotech industry?

More »