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Albany Molecular Research Inc. Message Board

  • donkeyheaded donkeyheaded Dec 3, 2012 12:18 PM Flag

    Another AMRI site closed, more jobs sent to Asia

    The Bothell site is closing and 24 jobs are eliminated. All the biology work being transferred to Singapore. I love the phrase "further optimize its location footprint" to describe the closing of yet another US site. This will save the company about $2 million per year. Wow...the CEO took more than that out of the company in the first 9 months of this year as his Technology Incentive Award ($2.47 million). Again I ask, why do the shareholders of this publicly traded company allow the CEO to personally and solely take 10% of the revenues from the only profitable part of the business? While at the same time continuing to eliminate US jobs and shift them overseas? I really don't get it. I'd rather live on the streets than work at that company. And no I'm not a former disgruntled employee, just someone who has watched, amazed for over a decade, that the CEO of a public company is allowed to skim so much cash from a company losing money.

 
AMRI
20.03+0.01(+0.05%)Jul 25 4:00 PMEDT

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