Monday, Dec 21, 1998
South San Francisco, Calif. -- December 21, 1998 --Genentech, Inc. (NYSE: GNE) today announced that it has earned a position on FORTUNE Magazine's second annual list of "100 Best Companies to Work For in America."
"We are pleased to be included in this prestigious list of recognized companies," said Arthur D. Levinson, Ph.D., Genentech's president and chief executive officer. "We strive to provide an exciting and productive environment for our employees through our commitment to patients, science and our employee culture."
Genentech was founded on the concept of an academically-oriented environment where excellent science and research can take place in a unique corporate culture. Genentech provides a stimulating, challenging and supportive environment that encourages peer interaction and open communication.
As part of Genentech's extensive employee programs, the company rewards its employees with a benefits plan that includes a paid sabbatical program and one of the largest corporate-sponsored day-care centers in the country. It also offers its employees paid maternity and adoption leave, adoption assistance, health seminars and a company-sponsored fitness facility.
Genentech makes a special effort to marry its commitment to employees with its commitment to the community. One example is "Genentech Goes to Town," a program where employees are given $25 in "GenenMoney" to spend in its hometown city of South San Francisco. This program enables Genentech employees and the city to come together as caring neighbors in a mutually beneficial event.
FORTUNE screened a broad range of companies for its list. To be eligible, all companies had to have more than 500 employees and have been in business for at least 10 years. After the initial screening, companies were judged on several criteria, including an employee survey designed to evaluate trust in management, pride in work and camaraderie. FORTUNE also reviewed company newsletters, employee handbooks and videos.
Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. Twelve of the currently marketed biotechnology products stem from Genentech science. Genentech markets seven products directly in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange and Pacific Exchange under the symbol GNE.
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