May 24, 2013
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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.
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