AMRI Announces Additional Actions to Streamline Operations
The actions are expected to improve the Company's overall cost competitiveness and increase cash flow generation.
Albany Molecular Research, Inc. (AMRI) has announced actions taken in the fourth quarter of 2011 to reduce the Company's workforce, right size capacity, and reduce operating costs in 2012. The actions are expected to improve the Company's overall cost competitiveness and increase cash flow generation.
The workforce reduction primarily affects personnel based in the Company's U.S. operations and includes certain positions associated with the previously announced decision to wind down all internal R&D activities as the Company enters 2012.
In addition, the Company will be terminating the lease of one of its U.S. facilities, which will result in a reduction in annual operating expenses related to this facility.
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