Celldex brings out the ax in wake of breast cancer drug disaster, chopping a quarter of its staff
Celldex Therapeutics $CLDX is restructuring and cutting back in the aftermath of a disastrous Phase IIb readout. The company — no stranger to misfortune — reported late Thursday that it is cutting 59 positions from its 2018 budgeted workforce, leaving it with 148 employees.
The process required laying off 41 employees in addition to abandoning plans to fill 18 new or open positions. According to the company, the move would also “better align its workforce with the needs of its business.”
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