Tuesday, March 31, 2009

Quidel Cuts 10 Percent

San Diego-based Quidel, a developer of diagnostic tests for the healthcare industry, said Tuesday that it has cut approximately 10 percent of its work force, or 31 employees, in a corporate restructuring. According to Quidel, it made the cuts in order to "gain operational efficiences and reduce costs." Quidel disclosed that the cuts included two senior-level positions, an elimination of its annual cash incentives, and efforts to reduce discretionary spending for the remainder of the year. The firm also said that its Chief Technology Officer, Thomas Foley, will retire, although the firm said that the move was unrelated to the restructuring.