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Thursday, February 27, 2014

The Neverending Story Sequel! PerkinElmer's Layoff Story Neverending!

In continuation to BioSaga's pursuit to cover the PerkinElmer's Layoff Saga The Layoffs Continue... The story now is never-ending, here is the latest!

PerkinElmer reduced its headcount by 74 employees in the fourth quarter of 2013, bringing the total headcount reduction during the year to 430, it disclosed in its Form 10K filed with the US Securities and Exchange Commission on Tuesday.

During the fourth quarter, the company approved a restructuring plan to shift certain R&D activity resources to a newly opened Center for Innovation, resulting in the 74 layoffs. All employees were notified of their termination by Dec. 29, 2013.

A total of $3.9 million was recorded in severance payments related to the layoffs in Q4 2013, PerkinElmer said, adding remaining severance payments of $2.0 million for workforce reductions will be "substantially completed" by the end of Q2 2014.

The company had previously disclosed it laid off 30 employees in Q3; 265 employees in Q2; and 62 employees in Q1, bringing the number of workers it terminated in 2013 to 430. As of Dec. 29, 2013 it had about 7,600 employees, it said.

In 2012, PerkinElmer cut its workforce by 437 employees.
It also said in its Form 10K that in 2013 the company acquired four businesses for a total of $11.4 million in cash. PerkinElmer did not disclose the names of the acquired businesses.
The company reported a 4 percent increase year over year in revenues for its fourth quarter last month. Revenues for full-year 2013 rose about 2 percent year over year to $2.17 billion.

The Neverending Story (German: Die unendliche Geschichte) is a German fantasy novel by Michael Ende, first published in 1979. The standard English translation, by Ralph Manheim, was first published in 1983. The novel was later adapted into several films.

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