Pharmacopeia (PCOP) Reduces Workforce by 28%
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In a Form 8-K, Pharmacopeia (Nasdaq: PCOP) announced that on December 19, 2008, it reduced its workforce by approximately 28% through termination of positions. The Company notified the 22 affected employees of their termination dates, all of which will be as of January 2, 2009. Substantially all of the severance cost is expected to result in future cash expenditures.
Pharmacopeia, Inc., a biopharmaceutical company, engages in the discovery and development of therapeutics to address significant medical needs.
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