With 77 layoffs, Valeant gets to work squeezing costs from Dendreon

It's no secret that when serial acquirer and cost-cutting enthusiast Valeant ($VRX) takes over a company, layoffs are on the way. And for Dendreon, the bankrupt Seattle biotech whose assets the Canadian company snatched up last month, they've already begun. Seventy-seven employees will pack their bags, according to a WARN notice seen by The Seattle Times. Washington's state Employment Security Department received word of the job cuts Feb. 23, immediately after Valeant wrapped its $400 million buyout of Dendreon's flailing prostate cancer vaccine, Provenge, along with other prospects. "Most of these positions were in G&A functions where there was overlap with Valeant's existing businesses, especially in corporate and back office functions," Valeant spokeswoman Laurie Little told the paper in an email. More

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