Life Technologies BioTech Laying Off Employees in Carlsbad and Other Locations–Life Science Company Impacted As More Investors Chase Social Algorithms

Well the world is somewhat speaking in a certain way of wanting more social algorithms than research in life sciences it seems today and this is one more casualty. We have new expensive cancer life prolonging drugs but can’t get enough of the generic chemotherapy drugs that do the work and save lives, so the it seems we have some real priorities mixed up in the world today. I have covered quite a bit about Life Technologies and they make that small desk top sequencing machine for one.

Life Technologies Debuts Ion Torrent Machine-Cheap Genes at $500 for Single Sequence

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You can read the comments below, tells it all….life sciences experiencing lower demand from both academic and government funded research sources in both the US and Europe. I’m sure there’s some really talented people here affected and I guess their future is to go work on social algorithms as it seems we are trying to somehow base an entire economy on that factor these days with a government of leaders that are too digitally illiterate to see it and the fact that we need balance of both algorithms and companies “who make something tangible” in order to create jobs and recover the economy…denial of the algorithms that ate New York City might be a good movie title here for what is taking place. BD

Biomedical products giant Life Technologies said Thursday it is laying off employees in response to slack demand.

Carlsbad-based Life Tech makes gene-sequencing instruments and biotech research tools. The company employed about 1,300 people in Carlsbad and 11,000 worldwide before the layoffs. The company declined to specify the number of layoffs or where they occurred.

Life Tech has been hurt by "macroeconomic" trends, CEO Gregory T. Lucier said in a July 28 conference call with Wall Street analysts.

"Consistent with what others in the life sciences tool space have seen, we continue to experience lower demand from academic- and government-funded researchers in the U.S. and Europe," Lucier said.

http://www.nctimes.com/business/article_33d6c1b5-886f-5297-bf63-8c6ef29322bb.html