Martek Biosciences Cutting 45 Kentucky Jobs

Martek Biosciences said Wednesday it is laying off around 45 people at its factory in Winchester, Ky.The company, which makes baby formula and nutrition supplements, cited the falling prices of infant formula for the layoffs.

Martek plans to transfer some manufacturing and distribution work to its facility in South Carolina with about 50 “highly-skilled” employees remaining in Winchester.

The company now plans to shift its focus to its non-infant formula business, Reuters reports.

“These actions are essential to Martek becoming a stronger and more efficient company that is better able to serve its customers, execute on its growth strategies, and create shareholder value,” said Steve Dubin, CEO of Martek Biosciences Corporation. “I continue to be encouraged by the demand for Martek’s products as our base infant formula business is expected to post solid growth this year, our non-infant formula DHA business is growing rapidly, and our Amerifit division continues to perform well.”

Martek will take a cash charge of $1.5 million in 2010 to account for the job cuts.

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

What I liked about the service is that it had such a comprehensive collection of jobs! I was using a number of sites previously and this took up so much time, but in joining EmploymentCrossing, I was able to stop going from site to site and was able to find everything I needed on EmploymentCrossing.

John Elstner Baltimore, MD

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.