San Diego subsidiary Prometheus Laboratories is slated to lay off 72 workers after being acquired by local company Precision IBD.
The terminations will occur from September to year’s end. Prometheus on July 1 filed a Worker Adjustment and Retraining Act, or WARN, notice summarizing the job losses.
The acquisition closed June 30, according to the letter.
“As a result of this acquisition, the company will be laying off 72 employees,” it states. Deal terms haven’t been disclosed.
Prometheus, a specialty pharmaceutical and diagnostic firm, did not return a request for comment.
This isn’t the first time the company has been purchased.
Prometheus was acquired by Nestle Health Sciences, part of Nestle S.A., in 2011.
Precision IBD is working on therapies and diagnostics for inflammatory bowel diseases, per the company’s website.