Covidien to Restructure

Covidien, the life sciences conglomerate with a significant portion of its business in medical devices, announced that it will begin a restructuring program in fiscal year 2009. It did not provide details other than to say that it will take a charge of $200 million in restucturing costs at the beginning of FY '09, and that it expects the program to save between $50 million and $75 million per year in operating costs.

September 29, 2008

1 Min Read
Covidien to Restructure

That suggests job cuts are coming.The goal is to "improve cost structure and to deliver improved operating growth." CEO Richard J. Meelia said the restructuring should enable the company to invest more in R&D, and to expand into other product areas.

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