• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Complete Genomics to restructure, cut 55 jobs

Complete Genomics to restructure, cut 55 jobs

June 6, 2012
CenterWatch Staff

Complete Genomics, a whole human genome sequencing company based in Mountain View, Calif., is taking steps to reduce cash consumption and has engaged Jefferies & Company to assist it in exploring strategic alternatives.

The company also plans to focus on development of clinical applications for its whole human genome sequencing service, while continuing to provide high-quality genomes to research customers.

"Leading hospitals, health care systems and physicians are beginning to adopt whole human genome sequencing for clinical applications," said Dr. Clifford Reid, chairman, president and CEO, Complete Genomics, adding that it “should position us well to capture this emerging opportunity."

Complete Genomics will maintain its current monthly capacity of approximately 1,000 genomes at 40x coverage or 500 genomes at 80x coverage. The company expects to delay capacity expansion beyond those numbers until demand for clinical-grade genomes supports expansion. Approximately 55 employees will be eliminated due to the delay in expanding capacity.

The employee reduction is expected to be substantially completed during the current quarter ending June 30, 2012. Restructuring and related costs incurred with the plan are estimated at $1.5 million, most of which will be cash expenditures. These costs are comprised of one-time termination benefits for employees whose positions are being eliminated and should be recorded this quarter.

Upcoming Events

  • 16Feb

    Fundamentals of FDA Inspection Management: Reduce Anxiety, Increase Inspection Success

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • SurveywBlueBackground-360x240.png

    Sites Name Tech Acceptance as Essential Factor in Selection of Sponsors, Survey Finds

  • TrendsInsights2023-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Two

  • TimeMoneyEffort-360x240.png

    Time is Money and So Is Effort, Budgeting Experts Say

  • TrendsInsights2023A-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Three

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing