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Layoffs Loom Over Onyx Pharmaceuticals, Inc. (ONXX) Staffers


8/28/2013 8:41:20 AM

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Onyx Management had a Q&A With Employees a day after Amgen bought them out for a hefty price tag of $10.4 Billion. Until the buyout closes completely, Onxy is expected to operate as a stand-alone entity. The big question for staffers was: Will I still have a job once everything has calmed down? According to a report filed with the SEC,"All employees will be notified no later than 30 days after the transaction closes if their positions are to be eliminated, transitioned, or they are to be offered longer-term employment with Amgen. If their positions are to be eliminated, they will be provided at least two weeks’ notice prior to their last day."

Click here to read more about the Q&A.

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