Abbott Labs - Top 5 layoffs of 2008

Top Pharma layoffs of 2008 report: Abbott Pharmaceuticals cuts 1,500 jobs in 2008

Company: Abbott Laboratories
Layoffs: 1,000

Summary: After cutting 1,200 jobs in December 2007, Abbott Labs chopped another 1.5 percent off its workforce when it eliminated 1,000 jobs in August. Manufacturing plants in California and Illinois will close, and some production will be transferred to Europe. Abbot says it wants to "streamline global manufacturing operations, reduce overall costs, and improve efficiencies" in its diagnostics business by 2011. The move will save the company $150 million a year once its completed.

Abbott Labs - Top 5 layoffs of 2008
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