Job Cuts Create Layoffs for Kentucky Company

Updated: Thu 6:26 PM, Oct 26, 2006

Video will be available shortly

Job Cuts Create Layoffs for Kentucky Company

Some unfortunate news for Kentucky workers at a biotechnology company.

Martek Biosciences Corporation on Thursday said it would cut jobs by 15 percent and take a charge as part of a restructuring of its plant operations.

The biotechnology company says it will transfer a substantial part of production at its Winchester, Kentucky, site to Kingstree, South Carolina, and lay off about 100 people, it said in a statement.

Martek said it saw $6 million in charges related to the restructuring, of which $5.4 million would be in the fourth quarter.

Two arrested in suspected Lexington crime ring

Current Conditions

Weather for Lexington, Kentucky

84° F

Mostly Cloudy

Thu

86 58

Fri

86 62

Sat

87 67

Sun

89 70

See detailed forecast

Opinion

Do you have plans to visit a Kentucky State Park this summer?

Yes

Maybe

Viewer Photos

Clouds

Sunrises & Sunsets

Flooding

Storms

‹ ›

Tweets by @WKYT

Text Links

Premium reloading brass once fired