Oscient Pharmaceuticals (OSCI) Cuts 32% of Workforce
Oscient Pharmaceuticals Corporation (NASDAQ: OSCI) announced a strategic realignment of its commercial organization to more aggressively preserve the Company's financial resources, while retaining coverage of those physicians with potential to generate the highest volume of prescriptions. In addition, Oscient has engaged Broadpoint Capital, Inc. (NASDAQ: BPSG) to advise the Company on strategic options, including the potential sale of the Company.
As a result of this restructuring, Oscient will implement a workforce reduction of approximately 32% of its 305 employees across the United States. Employees affected by the restructuring will be offered severance benefits. The Company is also eliminating approximately 25 positions which have been vacant. Following the staff reductions, the Company will have approximately 35 employees at its offices in Waltham, MA and Skillman, NJ; and approximately 170 field employees across the United States.
As a result of this restructuring, Oscient will implement a workforce reduction of approximately 32% of its 305 employees across the United States. Employees affected by the restructuring will be offered severance benefits. The Company is also eliminating approximately 25 positions which have been vacant. Following the staff reductions, the Company will have approximately 35 employees at its offices in Waltham, MA and Skillman, NJ; and approximately 170 field employees across the United States.
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