Updated: Tuesday, 02 Dec 2008, 10:49 PM EST
Published : Tuesday, 02 Dec 2008, 8:06 PM EST
MATTAWAN, Mich. (WOOD) - Bill Harrison, the COO of MPI Research in Mattawan, told 24 Hour News 8 they are cutting jobs.
Harrison said in a statement Tuesday night, "Like most companies, MPI Research has been adversely impacted by the world’s financial crisis. Our customers, primarily biotech companies, have had their funding sources cut and are being forced to cancel or delay studies with us. Because of the impact of this dire economic situation, we are reducing our workforce. We are making every effort to assist affected employees, with severance packages and extended medical benefits at our cost being offered.
"Despite the short-term uncertainly that our customers and other Contract Research Organizations in our industry face, we are optimistic about the long-term future of MPI Research. We have a strong reputation as being a high-quality provider of preclinical research, and our services will be needed more than ever once the economy stabilizes.
"Serious as the current situation is, we have experienced positive job growth throughout 2008 and, even after the current reductions, we will have a larger headcount than a year ago."
In April, MPI Research officials said they would use $86 million in state tax credits to expand their building in Mattawan and bring 3,300 jobs to the area.
"We also remain committed to our expansion in downtown Kalamazoo, which may be slowed somewhat but will remain on track with our 5 to 7 year expansion plan," Harrison said.