Pennex Labs' hoping 20% workforce reduction will help it break even by late August.
This article was originally published in The Tan Sheet
Executive SummaryREXALL SUNDOWN COMPLETES 20% WORKFORCE REDUCTION AT PENNEX SUBSIDIARY in late March. The reductions covered both management and non-management personnel, according to Pennex Labs President Barry Sapp. The elimination of about 40 positions included the deletion of a manufacturing management layer to "increase responsiveness," he said. The headcount at Pennex was 220 prior to the cuts, according to the firm
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