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Eclipse Surgical Cuts Costs and Employees

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SUNNYVALE, Calif., Dec. 7 -- Citing the need to increase sales and achieve profitability, Eclipse Surgical Technologies has terminated 37 employees and consultants, cut down on bonuses and canceled a number of dispensable research projects. The cutbacks are expected togenerate annualized cost savings of more than $3 million, the company said. We are in the process of implementing a number of programs to increase sales of our market-leading TMR products, said the company's chairman and CEO, Michael J. Quinn, who was hired in October. It is clear that our operating cost structure needed...Read full article

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    Published: December 2000
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