Covidien Cuts Costs in All Four Business Units, Corporate
Luke Timmerman9/29/08
Covidien, the Bermuda-based healthcare products company that is one of the largest life sciences companies in Massachusetts, said today it is implementing a restructuring program that includes projects in all four of its business segments and in corporate. The company didn’t disclose any job cuts, although it said it plans to take a $200 million charge for the program, and that it will save $50 million to $75 million a year once it is completed. Covidien’s four business lines are medical devices, imaging solutions, pharmaceutical products, and medical supplies.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
