Abbott Cuts 1,900 Jobs in Restructuring of Drug Unit
This article is for subscribers only.
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.