
Hologic (NSDQ:HOLX) confirmed this week that the $3.7 billion merger with molecular diagnostics giant Gen-Probe (NSDQ:GPRO) would indeed result in cuts of about 130 employees.
The layoffs will come as Hologic closes a Wisconsin manufacturing plant over the course of the next few years, the medical device company told state officials.
Hologic last month warned employees that it may close the plant following the acquisition, advising that the layoffs would "likely" take place within 18 month after the consummation of the merger.
Shareholders approved the buyout earlier this week and the companies consummated the union yesterday.
The Madison plant houses molecular diagnostics maker Third Wave Technologies, which Hologic acquired for $580 million in 2008 and which has been a bit of a drag ever since, resulting in more than $2.3 billion in goodwill impairments and other charges in 2009 alone.
The layoffs are set to begin at the end of next month and continue through September 2014, according to Boston.com.