On Air Now

Listen

Listen Live Now » 101.9 FM Central Wisconsin

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
58° Feels Like: 58°
Wind: WSW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

PM Thunderstorms 75°

Tonight

Clear 53°

Tomorrow

Mostly Sunny 78°

Alerts

Covidien to cut costs by outsourcing, consolidating plants

(Reuters) - Medical device maker Covidien Plc said it would cut costs by outsourcing services to low-cost locations and consolidating manufacturing and distribution centers.

The company said it expects to record related charges of about $350 million to $450 million, most of which will be incurred by the end of fiscal 2018.

Covidien said the restructuring, which has been approved by its board, is expected to save about $250 million to $300 million annually, with savings beginning in fiscal 2014 and accelerating in fiscal 2015.

The company expects a large portion of the restructuring to be completed by the end of fiscal 2018.

(Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty)

Comments