FDAnews
www.fdanews.com/articles/80773-mullen-s-biogen-idec-cuts-jobs-to-save-drugs

MULLEN'S BIOGEN IDEC CUTS JOBS TO SAVE DRUGS

September 9, 2005

To reduce annual operating expenses by $200 million to $300 million and boost the development of experimental drugs, Biogen Idec is cutting its workforce by 17% by the end of the year; that means some 650 workers will be chopped worldwide. The adjustments will occur across company functions, departments and sites, and are expected to be substantially implemented by year-end. The biotechnology firm expects to take a pre-tax charge of between $30 million to $40 million related to severance and associated staff restructuring costs.

Forbes (http://www.forbes.com/facesinthenews/2005/09/09/biogen-employment-drugs-cx_cn_0909autofacescan02.html)