Ultrasound provider Agilent Technologies has announced that its Healthcare Solutions Group (HSG) will implement a global restructuring program to reduce its regular workforce of 5,000 people by 450. Its contract employees will also be reduced by 200.
In addition, the Palo Alto, CA-based firm announced that it will accelerate programs to streamline manufacturing operations, affecting facilities in Andover, MA; Qingdao, China; and Boeblingen, Germany. In June, the firm had announced plans to transfer final assembly manufacturing operations from its Andover facility to Agilent’s production facility in Singapore. Now, Agilent indicated that it will also begin to transition its manufacturing activities in Qingdao, as well as portions of its final assembly functions in Andover and Boeblingen, to the Singapore facility.
The moves are designed to return the healthcare group to profitability as soon as possible, according to Agilent president and CEO Ned Barnholt. The workforce reductions are targeted for completion by October 31. Agilent expects to take a one-time charge of approximately $25 million in the fourth quarter to complete the workforce reduction. The firm believes the workforce reduction and other programs will result in annual savings of greater than $80 million in fiscal 2001.
By AuntMinnie.com staff writers
August 14, 2000
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