Another outsourcing company faces closure, all thanks to low cost outsourcing companies in India. Tripos had been losing contracts and had also been skimming its workforce. The company lost a number of deals including Pfizer which was the main support of the company. The company has been forced to sell it division in England and is trying to restructure it.
John McAlister, Chief Executive, Tripos stated:
It’s almost a death by 1,000 cuts. It’s been a long year in which we’ve had three different staff reductions at that facility. It’s terrible for morale, it’s terrible for management and it’s certainly terrible for finance as well.
This is a company whose software had been helping pharmaceutical companies for mining data which could be spread across a number of locations and technology platform. It’s truly said, one man’s loss is another man’s gain.
