The company already parted with 25% of its workforce last month.
Neovasc Ltd.(TSX: NVC), which develops vascular intervention products, is firing 10% of its employees. The company already fired 25% of its personnel last month, in the wake of a merger between two Israeli cardiology start-ups held by Peregrine Ventures and Canada's Medical Ventures Corporation , which created Neovasc. While November's layoffs were related to the merger rather than the economic crisis, the current round of cuts is due to the recession.
Published by Globes [online], Israel business news - www.globes-online.com - on December 9, 2008
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