The biotechnology company, Amgen Inc., plans to cut up to 14 percent of its work force. The Thousand Oaks-based firm said it plans to reduce its work force by 12 percent to 14 percent, or between 2,200 and 2,600 positions, and take with a restructuring charge between $600 million and $700 million. Amgen (AMGN) also lowered its profit guidance because of slimmer-than-expected sales of its anemia drug.
PENNIES
Rising metal prices have prompted lawmakers to consider dropping the zinc from pennies. Jarden Zinc Products (JAH), the government’s sole supplier of “penny blanks,” previously fought legislation allowing retailers to round off cash transactions, effectively eliminating the penny. The company has said it would be willing to consider producing blanks in other metals.
