More biotech layoffs

User Forum Topic
Submitted by toots on April 24, 2009 - 9:47am

Arena Pharmaceuticals, Inc. (ARNA) Lays Off 130 Employees After Weight Drug Disappointment
4/24/2009

Xconomy -- San Diego's Arena Pharmaceuticals (NASDAQ: ARNA) said in a regulatory filing today it's laying off approximately 130 employees, or 31 percent of its U.S. workforce, over the next four weeks.

‹ Housing Prices vs. Income by Area Where are all the foreclosures? ›
Remember this article?
Submitted by nostradamus on April 24, 2009 - 9:57am.

Remember this article?

http://www.iguanabio.com/tag/
Submitted by toots on April 24, 2009 - 10:24am.

http://www.iguanabio.com/tag/the-graveyard/

biotech graveyard

http://www.biotechcareercenter.com/Grave...
comment from one of the blogs: "If you are in school right now, stay there; get a graduate degree or a post doc, or something to stay out of the job market for a few years. The pharma industry is flooded with experienced scientists from all the layoffs and re-orgs so give it a few years for the dust to settle."

Wait a minute! Isnt biotech
Submitted by peterb on April 24, 2009 - 10:46am.

Wait a minute! Isnt biotech supposed to save the local economy!?

peterb wrote:Wait a minute!
Submitted by flu on April 24, 2009 - 10:52am.

peterb wrote:
Wait a minute! Isnt biotech supposed to save the local economy!?

Nope, having many different industries is suppose to. :)

toots
Submitted by flu on April 24, 2009 - 10:55am.

toots wrote:
http://www.iguanabio.com/tag/the-graveyard/

biotech graveyard

http://www.biotechcareercenter.com/Grave...
comment from one of the blogs: "If you are in school right now, stay there; get a graduate degree or a post doc, or something to stay out of the job market for a few years. The pharma industry is flooded with experienced scientists from all the layoffs and re-orgs so give it a few years for the dust to settle."

A few lucky folks ended up here

http://finance.yahoo.com/q/bc?s=ILMN&t=6...

Good for employees, sucks for shareholders

http://www.fool.com/investing/general/20...

how many of the 131 jobs cuts
Submitted by wannabe2077 on April 25, 2009 - 11:21pm.

how many of the 131 jobs cuts are in San Diego ?

Sequenom just laid of 30 as
Submitted by capeman on April 25, 2009 - 11:26pm.

Sequenom just laid of 30 as well... I didn't see that one coming with how well they've been looking lately.

union: everybody and their
Submitted by CostaMesa on April 26, 2009 - 12:04am.

union: everybody and their dog is trying to steal their lunch right now - and the tech needed has been developed, it will happen. In the meantime, their stock is one of very few that didn't lose significant value over the last six months which signals to me that they're now dependent on exuberance to keep going.

And it shouldn't be news to anyone that the 'recession' is being used by all companies to eliminate anyone not willing to work 80 hour weeks.

Unfortunately, we know
Submitted by CA renter on April 26, 2009 - 1:04am.

Unfortunately, we know someone who's been affected by this layoff. :(

So...if you know of any biotech firms that are hiring, please let me know!