Cardinal Health to cut 4,200 jobs, central Ohio imact "minimal"
Cardinal Health says it will cut 4,200 jobs and says it expects earnings to drop 15 percent in the first half of 2005.
The Dublin-based medical products and services company also says it plans to close 25 offices worldwide.
Cardinal Health says the cuts are part of a previously announced three-year restructuring plan designed to improve earnings by $500 million a year.
The company says the first phase of its restructuring plan is expected to cost between $300 million and $350 million dollars for employee severance and other costs.
Cardinal currently employs 58-thousand people. The cuts will affect about seven percent of the company's work force.
A spokesman for the company says the impact on central Ohio will be minimal. He says most of the cuts will come in the company's manufacturing sector.