gotta wonder what they needed 20 staff for in the first place? the bulk of their operation is researching 1 product, and manufacturing is offshore. most bio's are 2 or 3 guys in lab coats sitting around a single office.
last years annual cites $3.3m in wages and $700k in rent. Plus another $1m in corporate and admin.
$5m PA to run an outsourced operation doing some field work on the side is probably a bit heady considering the current economy. Only $200k were material costs.
so dropping the spare tyres, renegotiating an agreement, and moving on might actually be a good thing. mind you, i don't know if i want to stick around to find out. not the best first date i've been on...
gotta wonder what they needed 20 staff for in the first place?...
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