Perrigo to consolidate supply chain operations as part of downsizing

Perrigo ($PRGO), in an effort to hive off $175 million a year in costs, is laying off 6% of its workforce, among other steps. That includes finding $105 million in savings by consolidating its supply chain activities in Ireland, the drugmaker said in a release today when it announced earnings. It didn't give any specifics, like whether plants will be closed, saying that it was looking to "maximize value through the elimination of redundancies and enhancement of purchasing power." Release