Ventro to Close Chemdex, Promedix Operations, Cutting 235 Jobs - TheStreet

Ventro to Close Chemdex, Promedix Operations, Cutting 235 Jobs

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Shares of

Ventro

(VNTR) - Get Report

were trading higher today, after the business-to-business e-commerce company said it will cut 235 employees and shut down its

Chemdex

and

Promedix

operations.

Ventro, based in Mountain View, Calif., expects to incur charges of about $380 million to $410 million in its fiscal year-end results as a result.

Shares of Ventro were recently up 19 cents, or 10%, to $2.06 in

Nasdaq

trading.