Enzon Pharmaceuticals Plans to Cut Almost Half of Its Workforce
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Enzon Pharmaceuticals Inc., the biotechnology company pressured to sell assets by investor Carl Icahn, said it will cut almost half its workforce in June 2012 to reduce annual operating costs by about $6 million.
The move will reduce the staff to 47 and enable Enzon to “more closely align its resources with the company’s research and development activities,” the Piscataway, New Jersey-based company said today in a statement.