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news.Minrad International, an interventional pain management company, has reduced its workforce by approximately 35% or 50 positions.
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This reduction in workforce will affect positions in company locations including Pennsylvania, New York and other geographies.
Dave DiGiacinto, president and COO, said: “We have taken this difficult, but necessary action to reduce our cost structure to conserve our cash in response to our current adverse financial condition as we discussed in our recently announced third quarter 2008 financial results on November 14, 2008.”