CYCC » Topics » We may not be able to retain existing personnel.

This excerpt taken from the CYCC 10-Q filed Nov 14, 2005.

We may not be able to retain existing personnel.

 

From March 2005 through September 30, 2005 we reduced our staff by approximately 96 employees. Our remaining staff, as of September 30, 2005 consisted of ten employees. The uncertainty of the outcome of our review of strategic alternatives, workforce reductions and the volatility in our stock price may create anxiety and uncertainty, which may adversely affect employee morale and cause us to lose employees whom we would prefer to retain. To the extent that we are unable to retain

 

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our existing personnel, our business and ability to pursue strategic alternatives may suffer. In addition, this workforce reduction may subject us to the risk of litigation, which could result in substantial costs to us and could divert management’s time and attention away from business operations.

 

This excerpt taken from the CYCC 10-Q filed Aug 15, 2005.

We may not be able to retain existing personnel.

 

From March 2005 through August 12, 2005 we reduced our staff by approximately 85 employees. Our remaining staff, as of August 12, 2005 consisted of 20 full-time employees and 1 part-time employee. We are currently evaluating whether further reductions in our workforce are appropriate given our recent decision to discontinue our clinical trials and review our strategic alternatives. The uncertainty of the outcome of our review of strategic alternatives, workforce reductions and the volatility in our stock price may create anxiety and uncertainty, which may adversely affect employee morale and cause us to lose employees whom we would prefer to retain. To the extent that we are unable to retain our existing personnel, our business and ability to pursue strategic alternatives may suffer. In addition, this workforce reduction may subject us to the risk of litigation, which could result in substantial costs to us and could divert management’s time and attention away from business operations.

 

EXCERPTS ON THIS PAGE:

10-Q
Nov 14, 2005
10-Q
Aug 15, 2005
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