Tuesday, September 20, 2011

PacBio lays off 130

Pacific Biosciences of California laid off 130 employees, more than a quarter of its workforce, the company said Tuesday.
The Menlo Park developer of gene sequencing equipment (NASDAQ: PACB) said the moves will conserve cash as it tries to grow its customer base.
PacBio said it expects to end the third quarter with about $190 million.

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