Quest Diagnostics Restructuring and Will Cut 400 to 600 Jobs by End of 2013
Posted Oct 12 2012 7:01pm
Here’s some additional job losses and I swear we may be up for a short while and then more cuts come along. This is a small cut over all when you figure they have over 40,000 employees but nobody wants to lose a job for sure and Quest has automated a lot of their work flows and the article states these are mostly in a layer of management they will be eliminating. Where does Quest get most of their revenue, diagnostic information. They also just hired someone from Pfizer to lead up their commercial business area. The two individuals in charge of the health information unit will leave by the end of this year as well as the departments heads from HR and their insurance division so it kind of looks like these are the department that will largely fall under their reconstruction efforts. BD
MADISON, N.J. (AP) — Medical laboratory operator Quest Diagnostics Inc. said Thursday it will cut 400 to 600 management positions and reorganize its business.
Quest will eliminate three layers of management and reorganize into two business units, diagnostic information services and diagnostic solutions.
It expects to save $65 million a year from the changes. The company has around 42,000 employees. Quest expects to take $15 million to $20 million in charges associated with the restructuring and job cuts.