Career Corner >> Career Advice >> Quest Diagnostics to cut 400-600 jobs through 2013

Rate

Quest Diagnostics to cut 400-600 jobs through 2013

244 Views
1 Replies Flag as inappropriate
Me_in_cocceticut_max50

25421 posts

back to top

Posted 7 months ago

 



Quest Diagnostics to cut 400-600 jobs through 2013


 

Oct. 11, 2012 6:28AM PDT


 


NEW YORK   - Lab testing company Quest Diagnostics Inc said on Thursday it will cut 400 to 600 jobs by the end of 2013 as part of its effort to reduce costs by $500 million.

 

The job cuts, which will save $65 million, are part of a restructuring in which the company will have only two divisions, Quest said in a statement. That change is due to take place by January 1, 2013.

 

The company will take an additional $15 million to $20 million in charges to cover the costs of reducing management layers, which will include the departure of senior leaders.

 

Quest's growth has slowed in 2012 as the economy and uncertain reimbursements have resulted in fewer lab tests. The company has 42,000 employees.