February 4, 2009

King Pharmaceuticals cuts 760 jobs

According to Reuters, CNBC: “King Pharmaceuticals Inc (NYSE: KG) is cutting 760 jobs, or 22 percent of its workforce, as part of a restructuring designed to reduce costs, the company said on Tuesday. About 240 of the job losses are corporate positions associated with King’s $1.6 billion acquisition of drugmaker Alpharma Inc. Of the rest, about 380 are in sales and about 140 are corporate.”

~News submitted by upthecreek

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