Symyx Trims Staff by 15%
The company is also exiting the discovery research services business. This is Symyx’s second restructuring in less than a year (see IBO 12/15/08). The company expects to record restructuring costs of $4–$5 million. Total HSR revenue declined 13.6% over the first nine months of 2009.
Sunnyvale, CA 10/28/09—Symyx Technologies has announced the restructuring of its High Productivity Research business (HPR), resulting in the termination of 75 employees. The company will shut down its contract development and manufacturing operations that were acquired as part of its acquisition of contract service provider Integrity Biosolution last year (see IBO 8/15/09). Consequently, it will close its Camarillo, California, facility. Richard Boehner, HPR president, has stepped down and will be replaced on an interim basis by CEO Issy Goldwasser.
