23.09.2011 • News

Enzon Pharmaceuticals To Cut Nearly Half Of Its Workforce

Enzon Pharmaceuticals Thursday announced a 48% reduction in employees to more closely align its resources with the company's research and development activities.

Results for the ongoing quarter would include a charge related to the workforce reduction.

The reduction in force will reduce the number of employees by approximately 48%, to a total of 47, effective June 2012.

Enzon expects the reduction in force to result in approximately $6.0 million in reduced annualized operating expenses once the plan is fully implemented by the second quarter of 2012.

The Piscataway, New Jersey-headquartered company also expects to incur a charge in the third quarter of 2011 of approximately $3.0 million related to the reduction.

Innovation Pitch

Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Article

Reshaping Specialty Chemicals Manufacturing

The State of the US Specialty Chemicals Industry

SOCMA's Jenn Klein examines how specialty chemical manufacturers — the invisible backbone behind pharmaceuticals, electronics, agriculture, and energy — are navigating supply chain shifts, policy uncertainty, and constant change while remaining resilient, disciplined, and focused on execution.