Oscient Pharmaceuticals (OSCI) Cuts 32% of Workforce
More News related to BPSG
- Broadpoint.Gleacher Expands CLO, Emerging Markets, Bank Debt Sales and Trading
- Broadpoint Capital, Inc. Acts as Sole Bookrunner, ISM Capital LLP Acts as Financial Advisor on $105M Foreign Currency Convertible Bond Offering by REI Agro Ltd
- Broadpoint.Gleacher to Present at the Bank of America Merrill Lynch 2009 Banking and Financial Services Conference
- Broadpoint.Gleacher to Present at the Keefe, Bruyette & Woods 2009 Securities Brokerage & Market Structure Conference
- Bank of America Upgrades Broadpoint Gleacher Securities Group (BPSG) to Buy
More News related to OSCI
- Oscient Pharmaceuticals (OSCI) Files Chapter 11 Bankruptcy; Shares Deemed No Value
- Oscient Pharmaceuticals (OSCI) Discontinues Direct Selling of its Products; Eliminates 150-Person Sales Force
- Oscient Pharma (OSCI) Reports Smaller Q4 Loss
- Oscient Pharmaceuticals (OSCI) Cuts 32% of Workforce
- Oscient Pharmaceuticals (OSCI) Completes Convertible Exchange Offer; to Issue $85M in New 12.5% Convertible Senior Notes and 21M Shares of Common Stock
More News related to Corporate News
- Analog Devices' (ADI) Beat and Raise Quarter
- eLong (LONG) Posts Q3 EPS of 0.04, Tops by 7c
- Gladstone Capital (GLAD) Reports Q4 EPS of $0.20, Misses by 3c
- HP's (HPQ) Q4 Profits Rise 14%
- First Regional Bancorp (FRGB) Announces Adjustment in Taxes and Loan Losses
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.
Related Categories
Corporate NewsStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
