Cardima faces reality and slashes workforce:
This article was originally published in Clinica
Executive Summary
Cardima has slashed its workforce by 30% to 52 employees in a bid to focus resources on the problems that caused its Revelation Tx ablation device to be deemed unapprovable by the FDA (see Clinica No 1060, p 19). The Fremont, California-based company, which will take a charge of $325,000 in the second quarter of 2003 for severance and benefits, does not expect the reduction in staff to affect the supply chain of devices to existing markets.