McKesson Falls After Saying It Will Cut 1,600 Jobs in U.S.
- Shares decline 3.5 percent, reach lowest price in a month
- Firings come after drug distributor lost key customeres
This article is for subscribers only.
McKesson Corp. shares fell after the drug distributor said Wednesday night that it will fire 1,600 people, or about 4 percent of its U.S. workforce, to cut costs after losing some key customers.
On Thursday, the shares dropped 3.5 percent to $150.53 at 10:42 a.m. in New York. The shares have lost 32 percent in the past 12 months, as of Wednesday’s close.