MDS, parent company of MDS Nordion of Ottawa, plans to lay off 150 employees at its Toronto headquarters when the company relocates to Ottawa but also hire 50 people for its new offices.
MDS expects the cuts to cost approximately $30 million ($27 million U.S.) in severance, of which $9 million ($8 million U.S.) was charged in the fourth quarter of 2009.
As it restructures, MDS plans to keep its MDS Nordion medical isotope business and has reached an agreement to sell its Analytical Technologies business for $650 million to Danaher of Washington, DC.
MDS still is looking for a buyer for its Pharma Services unit.
Related Reading
MDS blames isotope shortage for poor Q4, January 22, 2010
MDS finalizes CEO position, January 8, 2010
MDS unveils CEO transition plan, September 18, 2009
MDS to divest non-Nordion units, September 2, 2009
MDS offers plan to fix Maple reactors, July 31, 2009
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