ICN Pharmaceuticals Will Cut 1,900 Jobs, Close 8 Plants

[hatrack]

ICN Pharmaceuticals will cut 1,900 jobs, sell 8 manufacturing plants
BLOOMBERG NEWS
updated: 10/15/2003 08:36 PM


"ICN Pharmaceuticals Inc. of Costa Mesa, Calif., which is shedding units to focus on drug research, will cut more than a third of its work force and sell eight manufacturing plants to save up to $200 million within five years.

The manufacturing work force will be reduced to about 1,300 from 3,200, ICN said Wednesday. At the end of last year, the company had about 8,000 manufacturing employees.

Robert W. O'Leary, chief executive, has been reorganizing ICN's businesses and selling off operations. Earlier this month, ICN sold a radiation-exposure detection services business; in June, it sold its factories and pharmacy chain in Russia. ICN is selling plants in Bryan, Ohio, and in Mexico, Brazil, Poland, Canada, Spain, and two in Argentina."

EDIT/END

St. Louis Post-Dispatch

[tom_paine]

1. But...but...the Busheviks told us the economy is recovering!

Which of course, hold all the same force and integrity of Stalin saying Toilet Paper Production increased 600%.

Lying Totalitarian Scum are all the same, aren't they?

(well, the Busheviks aren't yet as murderous as the Soviets or Grandpa Bush's business partners...which I suppose we can be thankful for given they emulate them in so many other ways)

[Colin Ex]

2. Jesus H. Christ, what a shitty year

for the medicine industry.

First Pfizer moves into Kalamazoo, buys Pharmacia and gives the entire community the shaft, hardcore.

And now ICN is giving California the shaft.

This is really brutal.

-C

[cap]

3. it's only 1-2 % ... give me a break....

and not a tax break....

C'mon a difference of 1-2% for workers hurt on the job ... why are you so damn cheap!