Fresenius Medical Care to Cut Up to 5,000 Jobs on Covid Toll
- Dialysis company expects earnings, sales at lower end of range
- Patient deaths from Covid are reducing revenue from services
A patient undergoes dialysis, aided by a Fresenius Medical Care AG machine.
Photographer: Prashanth Vishwanathan/Bl;oomberg
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Fresenius Medical Care AG plans to eliminate as many as 5,000 full-time positions as patient deaths from Covid-19 reduce the German kidney dialysis company’s revenue prospects.
The company will spend 450 million euros ($522 million) to 500 million euros to fund the restructuring of its operations into two segments -- care enablement and care delivery, according to a statement Tuesday. The measures aim to save 500 million euros a year by the end of 2025.