Friday, May 15, 2009

Cell Therapeutics Shuts Italian Operations

Seattle-based Cell Therapeutics reports today that it has reached an agreement with the employees of its Italian operations, and will reduce its headcount in Italy by 56 positions. Cell Therapeutics, which disclosed in February that it was hoping to pare back its operations in the country, said the agreement would save it approximately $14M in annual operating expenses. Cell Therapeutics said it is continuing to search for career opportunities for its employees from its Bresso, Italy plant, which it says will shut its doors May 18th.