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Cardinal Health cuts 800 jobs

Ohio-based Cardinal Health is to cut its global workforce by around 800 over the next six months and lose a further 500 positions through normal attrition

Ohio-based Cardinal Health is to cut its global workforce by around 800 over the next six months and lose a further 500 positions through normal attrition.

The company is reducing its workforce in response to the decline in the global economy. In addition, Cardinal Health plans to introduce cost control measures across the corporation. The company expects to spend around $33m on restructuring by September 30, 2009 and a further $24m in the 2010 financial year. This restructure is expected to produce annual savings of around $110m to $130m within two years.

"While many companies have taken similar actions to respond to the current economic realities, these are very difficult decisions because of their effect on our employees and their families," said R Kerry Clark, Cardinal Health chairman and CEO. "However, these measures are necessary to help offset current economic conditions and will ultimately strengthen our businesses for the longer-term."

The $91bn company currently employs more than 40,000 people across five continents. Cardinal Health manufactures medical and surgical products and is one of the largest distributors of pharmaceuticals and medical supplies worldwide.

1st April 2009

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