Avid Bioservices Inc (CDMO)

[biopharm]

Good article FTM... now if this means that employees pay is frozen from research scientists/lab assistnats..etc..etc because of this... its just not right.

The 17 May issue of The Cancer Letter (available only to subscribers) reported that DePinho announced austerity measures — such as suspension of merit raises and slowing of hiring — in an e-mail to MD Anderson employees on 15 May. It read, in part:

For most of Fiscal Year 2013 (FY13), our operating expense has exceeded our operating revenue — meaning that we’ve spent more than we’ve made from providing our patient care services. What we’re facing today is much like what you’d face with your own checkbook if you spent more than you were paid each month for several months.

Updated with new comments from MD Anderson.