Abbott Cutting 200 Local Jobs

Job cuts announced on same day as positive earnings report

Wednesday, Oct 17, 2012  |  Updated 12:26 PM CDT
View Comments (
)
|
Email
|
Print
Abbott Cutting 200 Local Jobs

clipart.com

advertisement

It was a good news kind of day at Abbott Laboratories.

The suburban drug and medical device maker announced Wednesday it is cutting 700 jobs in the U.S. and Puerto Rico, 200 of which will come from its Lake County campus, the Chicago Tribune reported.

Workers were informed of the layoffs shortly after an announcement that the company reported higher third-quarter profits, edging past analyst expectations, even as revenue slipped.

The job cuts are part of a restructuring effort in its manufacturing operations.

Abbott employs 13,000 workers at its Mundelein operation which supports its hospital and laboratory diagnostic business.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out