Axe sharpened at Generics

12 April 2012

GENERICS is wielding the jobs axe as part of a £2.5m cost-cutting. The group, whose activities cover technology research, consulting and start-up financing, is chopping up to 25 staff at its consultancy business and support functions in Cambridge.

Also, the board has recommended voluntary wage cuts and executive directors have already agreed to take a 20% pay cut. In February Generics said it lost £12.7m last year.

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