ZymoGenetics announces workforce layoffs

SEATTLE ZymoGenetics will lay off 32% of its workforce, the company announced Wednesday.

The Seattle-based biotech company said it would lay off 161 employees as part of a corporate restructuring. It hopes to save about $30 million the third quarter 2009 as a result.

“We’re taking steps to reduce our costs, align our spending with our highest corporate priorities and conserve our financial resources,” CEO Douglas Williams said. “While it is very difficult taking these actions, they are necessary given challenging market conditions and the changing focus of our business plan.”

The company said it will continue to build the market for the anti-bleeding drug Recothrom [thrombin, topical (recombinant)].