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Albany Molecular Research Shutters Rensselaer Lab, Lays Off 50

05/26/2010
Albany Molecular Research Inc. (AMRI) will close its Rensselaer, New York research facility and lay off 50 employees, according to The Albany Business Review. At the same time, AMRI will invest $30 million in overseas facilities and hire 180 international employees. Thomas D'Ambra, chairman, president, and CEO of AMRI, attributed the closure to "softness in the U.S. market."

"We regret the need to take the actions we announce," D'Ambra told the Journal. "The actions we are taking are part of our ongoing commitment to tightly manage costs while also managing our infrastructure to support future growth and development."

AMRI will cut a total of 80 jobs across the country, or 10 percent of its work force. The company expects those cuts to save it approximately $4 million in labor costs this year.

The company will also halt operations at the SUNY University at Albany's East Campus Research Facility. Work there will be merged into other AMRI sites.

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