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Human Genome Sciences, Inc. (HGSI) to Lay Off 97 Workers


10/18/2012 8:05:37 AM

Baltimore Business Journal by Ryan Sharrow, New Media Editor

Human Genome Sciences plans to cut an additional 97 positions in Rockville later this year and more layoffs could be on the way, the biotech company told the state’s labor department on Wednesday.

The jobs to be eliminated are part of an ongoing internal restructuring plan, according to the notice with the Maryland Department of Labor, Licensing and Regulation. The layoffs will begin on Dec. 15.

Human Genome also told the state a third phase of terminations are projected to begin around Nov. 30 with subsequent phases of job cuts occurring in 2013.

During the summer, GlaxoSmithKline (NYSE: GSK) completed its $3.6 billion takeover of Human Genome, ending GlaxoSmithKline’s months-long struggle for control of the company. Human Genome agreed last month to be acquired after earlier rejecting an acquisition offer of $13 per share as too low.

Kevin Colgan, a spokesman with GlaxoSmithKline, said the job cuts are part of an ongoing integration between the two companies.

In September, Human Genome Sciences announced plans to cut 114 positions, or roughly 10 percent its 1,100-person workforce, starting this month.




   

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