PharmaPrint Eliminates 10 Positions

PharmaPrint Inc., struggling to recover after its only major customer said it would sever ties with the money-losing company, said Monday that as part of a restructuring, it has eliminated 10 jobs that are not focused on sales and marketing.

The Irvine herbal supplement maker said that even though it has cut a third of its staff, it is in the process of hiring sales and marketing employees.

Since October, the company has reduced overall wages and salaries 30%. After the hiring is complete, labor costs will remain 15% lower than in October.

The new hires will help introduce PharmaPrint products to multilevel marketing and specialty market arenas, both domestically and internationally, and will continue to offer products through the Internet, the company said.

Tiny PharmaPrint has been supplying American Home Products Inc. with ingredients for American Home’s Centrum brand. But the Madison, N.J., giant cut orders during PharmaPrint’s fiscal second quarter, which ended in September, and gave one-year formal notice in October that it will terminate the contract.

The two companies have lawsuits pending against each other.