The cuts amount to around 2% of the workforce. The company has also had their share of recalls and the glucose strips were huge and again states the need for a way of consumers, doctors and pharmacists to identify them.
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In addition there were problems with Meridia which was also made by Abbott and they are feeling the pinch just as are many other pharma companies. BD
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Jan. 26 (Bloomberg) -- Abbott Laboratories, maker of the rheumatoid arthritis drug Humira, said it will cut about 1,900 jobs as part of a restructuring of its pharmaceutical business.
The cuts, amounting to 2 percent of the workforce, will help the Abbott Park, Illinois-based company cope with the U.S. health-care law passed last year, Abbott said in a statement today. The drugmaker said it would take charges of about $295 million in the coming years to transfer product manufacturing to new locations, including about $165 million this year.
The job cuts come “in response to changes in the health- care industry, including U.S. health-care reform and the challenging regulatory environment,” Abbott said in the statement. The move will “streamline commercial and manufacturing operations, improve efficiencies and reduce costs.”